Coronavirus UK: What time is Rishi Sunak's statement and what will he say?

22 October 2020, 08:15 | Updated: 22 October 2020, 08:19

The Chancellor is set to announce a new support package for businesses affected by Tier 2 restrictions.

Rishi Sunak will unveil a new plan to help firms, particularly pubs and restaurants, who have seen their trade drop as a result of the social restrictions in the "high" Covid-19 category.

What time is Rishi Sunak's statement?

The Chancellor will address the House of Commons at around 1130am today following a business roundtable event this morning.

What is he expected to say?

It is reported he will unveil financial measures to help businesses in Tier 2 regions, following complaints from industry leaders and MPs that thousands of jobs were at risk ahead of Christmas.

The Chancellor's spokesperson said: "The Chancellor is due to update the House of Commons on the economic situation, in particular, and so far as it relates to the new restrictions.

"And, what we have always said is that our package of support is always flexible and always up for review to make sure that it is dealing with the situation as it evolves."

For Tier 3, the government will pay employees 66% of their wage, with the employer still contributing to pensions and National Insurance.

At present, companies in Tier 2 can only claim on a scheme where employers have to pay around 55% of staff wages with a smaller subsidy from Government, while still being subject to bans on household mixing indoors.