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As we have done throughout the pandemic, we are closely monitoring the impact of COVID-19
on the economy. We will continue to respond proportionately to the changing path of
the virus.<p> </p><p>Since the start of the pandemic, the Government has a strong
track record of responding quickly, flexibly, and comprehensively in supporting jobs,
businesses, individuals, and families when needed.</p><p>The effectiveness of our
£400 billion package of interventions since the start of the pandemic, and the strength
of the recovery that we have seen from previous waves means the economy is in a different
place now.</p><p> </p><p>Employee numbers are above February 2020 levels in every
part of the country and have grown consistently through this year.</p><p> </p><p>So,
it is right that our economic response in the face of Omicron adapts too and that
our support is better targeted at the businesses that need it the most, providing
better value for taxpayers and helping the economy to bounce back more quickly.</p><p>
</p><p>However, we recognise the impact Omicron and Government guidance is having
on businesses and individuals, which is why on 21 December 2021 we announced £1 billion
of new grant support for the hospitality, leisure, and cultural sectors, and reintroduced
the Statutory Sick Pay Rebate Scheme. This is on top of the existing package of support,
in place through to Spring 2022, which includes the Recovery Loan Scheme, business
rates relief, VAT reduction, and the ongoing commercial rent moratorium.</p>
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