Property industry renews its call for a rent support scheme

Property industry renews its call for a rent support scheme to help prevent CVAs

Calls on the government for a rent support scheme to stop a tidal wave of CVAs in the retail and hospitality sectors have intensified following the chancellor’s failure to include any rent relief measures in the summer statement.

The initial proposal was revised after the government indicated the scheme was too expensive, with the cost more equally shared between government, tenant and landlord. But the chancellor opted to back VAT cuts and Eat Out to Help Out in an attempt to support the retail, leisure and hospitality sectors instead.

Industry leaders said the news had come as a major blow. “We were disappointed that the chancellor didn’t take the opportunity to say something tangible to support retail and hospitality, but it’s still under consideration and still under discussion.”

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