“However, a number of individuals and businesses have fallen through the cracks of support and faced many months of financial hardship.
“Small businesses, sole traders and entrepreneurs will be the engine of the UK’s economic recovery in the months and years ahead. But, if we do not support them now, many face ruin.
“Without targeted support, jobs will be cut, hard-earned savings will run dry and livelihoods will be lost. It will be much more expensive to rebuild what we had later down the road than to provide the reasonable support needed now.
“Without these individuals and businesses, the UK cannot ‘build back better’. As we look to re-energise our economy, these individuals and businesses will be instrumental. Their hard work and innovation will create jobs, widen opportunities and provide a way out of the Covid-19 crisis.”