Welsh Government Economy minister Ken Skates has made a bold pledge to protect every good business and job in Wales.
The Economy chief spoke yesterday (CORR) morning at a press conference to lay out how they would back the business community in Wales.
But said it was up to 海角视频 chancellor Rishi Sunak to bring in a wage subsidy to support workers.
Last night the chancellor announced plans to ensure the 海角视频 Government will support businesses and workers by paying 80% of people's wages.
Appealing to businesses the Chancellor said: “The Government is doing its best to stand behind you and I am asking you to stand behind our workers”.
Mr Sunak said he would defer the next quarter of VAT payments for firms, until the end of June, in a £30bn injection into the economy. And offered business interruption loans interest free for 12 months, which is up from the six that was announced on Monday.
A major national advertising campaign to be launched within days.
The pledges from Mr Skates came two days after a £1.4bn package that provided retail, leisure and hospitality businesses in Wales with a year long business rates holiday and grants offered to thousands of businesses across the nation.
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He pledged: "If you had a good business in 2019 you will have a good business in 2021, if you had a good job in 2019 you will have a good job in 2021.
"Here in 2020 we have a battle in which we must all fight together.
"We are deploying £1.4bn of support for businesses, in normal times we would have within the economy budget just tens of millions of pounds to support businesses with grants.
"These are unprecedented times and we have never ever deployed such a figure to support Welsh businesses."
He added: "Many businesses have just hours, not days to survive and they cannot wait until next week for a positive announcement from the chancellor.
"Fear is normal in a crisis, it can either paralyse you, it can sometimes lead you to make destructive decisions or take destructive actions or it can lead you to make a positive decision.
"Today, I hope and expect the chancellor to make a positive decision on wage subsidies for British businesses.
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"The 海角视频 Government needs to make a positive statement on a wage subsidy today."
He added: "Equally there is a role for banks to make the rights decisions for businesses.
"I have conveyed (to the banks) that they must act in a responsible and supportive way and many are doing exactly that."
He said he was working with 海角视频 Government, businesses and trade unions in the battle to as it needed a 'coalition' approach.
"We are all turning our fire on Covid-19."
He urged businesses to do all they can to support employees and pay "as much as they are able".