The economic impact of COVID-19 is clearly going to be huge; commentators are warning that this is the greatest financial crisis since the 1930s.
The government has responded to the immediate financial pressure that authorities will face by providing £1.6 billion of emergency funding. However, having worked closely with our clients to understand both the immediate and the longer-term impact, our view is that the money is likely to prove insufficient. Some authorities have already identified double figure cash shortfalls in terms of their ability to respond and provide short term assistance to local businesses…
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