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The situation for small businesses fairing the economic crisis seems dire as the ONS reveals 25% have seen turnover drop 50%. Though super rich and tax avoiding firms are also feeling the pinch. French tourism braces for disaster as Ryanair maintains move forward.
Andy Verity highlights the ONS figures on small businesses – check out the rest of this thread.
These stats just released by the Office for National Statistics tell you something of the extremity of the predicament thousands of small firms are in: https://t.co/wgMC20lCLc. 25% of firms have seen turnover drop 50% or more.
— Andy Verity (@andyverity) May 14, 2020
Stranded super rich get to grips with new tax burdens.
'That bloody coronavirus! The lockdown meant I couldn't get back to my tax haven and now I have to pay tax!' https://t.co/mT0HN2K0xq
— Jo Maugham QC (@JolyonMaugham) May 14, 2020
This news comes as the Welsh government announce they will not bailout businesses based in tax havens.
The Welsh government will deny #COVID19 bailout funds to firms based in tax havens, and hopes the move will be rolled out across the UK.
“It demonstrates to the people of the UK that we are not going back to business as usual after this crisis.”https://t.co/WdKyyyIouf
— Dan Carden MP (@DanCardenMP) May 13, 2020
Calls for aviation restrictions are mounting.
PM’s former top envoy to business, now an MP, says aviation sector needs cancellation of air passenger duty NOT a 14 day quarantine… significant backlash from the sector about jobs impact of the Home Office-led policy for airlines, airports & aerospacehttps://t.co/5HZRtKF9HV
— Faisal Islam (@faisalislam) May 12, 2020
This comes as France prepares bailout for tourism industry.
France is expected to announce a 1.5 billion euro plan today to relaunch the tourism industry. A quarter of the country’s restaurants are threatened with permanent closure. This summer season is expected to be a disaster #COVIDー19 /1
— katya adler (@BBCkatyaadler) May 14, 2020
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