{"id":167107,"date":"2020-08-10T08:37:00","date_gmt":"2020-08-10T08:37:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/retailers-landlords-team-up-with-mps-to-see-if-government-could-fund-50-of-commercial-rent\/"},"modified":"2021-08-06T12:06:48","modified_gmt":"2021-08-06T12:06:48","slug":"retailers-landlords-team-up-with-mps-to-see-if-government-could-fund-50-of-commercial-rent","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/retailers-landlords-team-up-with-mps-to-see-if-government-could-fund-50-of-commercial-rent\/","title":{"rendered":"Retailers & landlords team up with MPs to see if government could fund 50% of commercial rent"},"content":{"rendered":"

Retailers and landlords have reportedly teamed up with MPs to hold discussions about proposals which could see the government fund up to half of commercial rent to help retailers survive the coronavirus pandemic<\/strong>.<\/p>\n

According to\u00a0The Telegraph<\/em><\/a>, trade bodies have held talks with ministers about proposals which could lead the UK Government to fund up to 50% of rent and services charges owed by businesses in the retail, hospitality and leisure sectors.<\/p>\n

The \u201cProperty Bounce Back\u201d grants will focus on businesses severely impacted by coronavirus lockdown.<\/p>\n

This follows a reports that \u00a33 billion worth of commercial rent could be unpaid for the six month period to September.<\/p>\n

A joint statement by the British Retail Consortium, British Property Federation, UK Hospitality, ukactive and Revo sayd:<\/strong> \u201cWithout urgent action on rents, many otherwise viable businesses are, through no fault of their own, at imminent risk of failure.\u201d<\/p>\n

\u201cWhere both landlord and tenant are able to cover at least 50 per cent of the rent owed, and are able to demonstrate they are working together as economic partners, government should have the confidence to invest in these businesses\u2019 futures and prevent the needless loss of hundreds of thousands of jobs.\u201d<\/p>\n

A government spokesman said:<\/strong> \u201cWe recognise the huge challenges being faced by commercial tenants and landlords during this period, which is why we\u2019re working closely with them to ensure they are supported and would urge both landlords and tenants to follow the example of others and find solutions that work for both parties.\"<\/p>\n

\u201cThe government has taken unprecedented action to protect jobs and livelihoods, with a package of around \u00a3160 billion of support, including loans, rates relief and grants for businesses to support them through the pandemic.\u201d<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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