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PRA welcomes Chancellor’s “whatever it takes” pledge to business

PRA welcomes Chancellor’s “whatever it takes” pledge to business
“With Government advice to avoid public transport, our road network and refuelling capacity becomes ever more vital, so we are pleased that the Chancellor has introduced immediate additional measures for petrol filling stations,” said Brian Madderson, Chairman of the Petrol Retailers Association (PRA).

The PRA wrote to the Chancellor earlier in the week highlighting the issue of independent petrol filling stations.

In the letter, a range of financial assistance was requested above and beyond the Budget support. The Government has now, on top of the existing multi-billion pound package from the Budget, introduced:

Cash grants of £25,000 per petrol filling station business with Rateable Value up to £51,000

Business Rates “holiday” for all petrol filling stations for 12 months from 6 April 2020

Initial £330 billion of guarantees available as low interest loans

Business Interruption Loan Scheme announced in the Budget extended from £1.2 million up to £5.0 million for small and medium sized businesses with no interest due for the first six months

Madderson continued, “The PRA will continue to liaise closely with all Government departments, including the Department for Business, Energy & Industry Strategy for fuel supply issues, as the resistance against coronavirus is stepped up.”

*Article Source https://www.rmif.co.uk/