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The A47 eastbound carriageway will be closed for at least two nights this week at the junction with the A146 at Trowse, and it will not be possible to join the A47 eastbound at Postwick.

The closure will be in place from 8pm to 6am on Tuesday night, 13 May, and Wednesday night, 14 May. If work is not complete, two further nights will be used (Thursday 15 May and Friday 16 May).

Traffic will be diverted via the A146, A143, A12 to rejoin the A47 at Vauxhall roundabout. Traffic attempting to join the eastbound A47 at Postwick will be diverted across the A47 and via the westbound A47 to join the A146 diversion route at Trowse.

The closure is to allow barriers to be installed at Postwick to protect the workforce and the travelling public during the junction improvement work that began today (Mon).

Norfolk County Council apologises for the inconvenience caused by these overnight closures.

Further information on the Postwick scheme can be found here: https://www.norfolk.gov.uk/news/NCC147854 .

As the government mulls plans to lift lockdown, British Chambers of Commerce President, Baroness Ruby McGregor-Smith, has written an open letter to the Prime Minister setting out principles for a phased restart of the UK economy.

The leading business group set out its integrated approach, the first step in a three-stage process, as the government prepares to ease initial lockdown restrictions.

The letter reads: “The fight against the virus must remain the top priority, but the planning and communication of a carefully phased approach to lifting lockdown must begin immediately if we are to harness the public health and economic benefits, both now and in the future.”

Praising the work of Chambers of Commerce across the UK as the “first responders” of the business world, the letter is accompanied by detailed policy proposals for safely reopening the economy, comprising steps to:

• Safely reopen public spaces and restore services (including schools and public transport)
• Safely reopen workplaces and commercial spaces
• Minimise job losses and business failures
• Rebuild supply chains and customer bases; and
• Put the UK economy on a high-growth, high-wage and low unemployment trajectory as soon as possible

The letter continues: “This is a time to be bold. Government should not shy away from sustaining high levels of public spending in order to restart and renew our communities and the economy in the short and medium-term, while not tying the hands of future generations.

“An expansionary fiscal policy, including a commitment to transformative infrastructure investment, will be needed in order to generate the returns that will help to pay down the national debt in the longer-term.

“We see the journey ahead as having three phases: 

• Restart: a phased reopening of the economy
• Rebuild: building resilience for firms and households
• Renew: returning to prosperity and growth

“We plan to share some principles for each of these three phases over the coming weeks, beginning today with ‘Restart’.

“Fundamental prerequisites to beginning this journey include mass testing and contact tracing; clear decisions and guidance on what PPE is needed in workplaces; and proactive steps to ensure adequate supply of PPE to both the health service and to businesses where necessary.”

The letter welcomes the “speed and scale’ of existing government support schemes and indicates that they will need to “continue to evolve to support a phased restart of the economy, enabling businesses to survive through this crisis and thrive in the future.”

The letter concludes: “We commit to working with you and your colleagues across Government on exploring these phases in detail as we plan our path forward. We owe nothing less to our businesses, and the communities and people they support, who have been battered by this storm.”

The full letter can be viewed here.

• In the three months to June 2014, employment rose by 167,000, while unemployment fell by 132,000 (to 6.4%)
• Total pay including bonuses fell by 0.2% while pay excluding bonuses was up 0.6%

Commenting on the labour market statistics for August 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“These figures show that the UK labour market is strong and flexible. However, wages growth declined on the quarter for the first time in five years, which is a warning sign that the economic recovery although on the right track, is still fragile.

“The earnings figures confirm that there are no serious inflationary pressures at present, with the strength of sterling also putting downward pressure on inflation. In this environment, the MPC needs to take its time before considering a rise in interest rates, and assure businesses that when they eventually start rising, this will happen slowly and at a measured pace.”

Commenting on the news that the UK and US are to open formal negotiations on a future free trade agreement, BCC Director General Adam Marshall, said:

“While most UK businesses will be focusing on the immediate challenge posed by Coronavirus, strong trading arrangements with both the European Union and USA will support recovery and future growth.

“The government has set a high ambition for UK-US talks, and it will be particularly important to get the details right over the coming months to ensure that any prospective agreement delivers tangible benefits to businesses and communities across the UK.

“Companies will welcome the focus on helping more UK SMEs grow their trade with partners in the US, and on finding ways to move goods, people and data across borders between the two countries more smoothly.

“We will be working constructively with the Government to ensure the needs of UK business communities are considered in negotiations with the USA and with other key trading partners.”

The coronavirus pandemic has been a seismic shock to the Norfolk economy. It is an unprecedented situation in both scale and impact. What we now understand is that we will not be going back to “business as usual” any time soon. There will be a ‘new normal’ and as a business community we must find ways to adapt and thrive in a very different economic landscape.

Norfolk Chambers would like to understand what challenges your business has faced and is still facing as a result of the impact of Covid-19.  We want to ensure that we support the business community in the most effective and useful ways and have designed the Norfolk’s Business Pulse to help us to understand how best to help. 

Ensure your voice is heard and listened to by helping us to take the Business Pulse – take part now.

HM Revenue and Customs (HMRC) has updated their guidance on the SEISS:

• HMRC is now contacting people who may be eligible for the SEISS
• The claims service will open on 13 May
• Applications will open in tranches based on the UTR number
• Those eligible will have the money paid into their bank account by 25 May, or within six working days of completing a claim.

People who may now go online and check their eligibility for SEISS.

What is it?

The Bounce Back Loans scheme will offer loans from £2,000 up to 25% of a business’ turnover or £50,000, whichever is lower. The Government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. The government has then set the interest rate for this facility at 2.5% per annum for subsequent years. No repayments will be due during the first 12 months. Length of the loan is for six years. There will be a short, standardised online application to apply for a loan. The scheme is now open for applications and firms will be able to access these loans through a network of accredited lenders.

Am I eligible?

Your business must be able to self‑declare to the lender that it:

• has been impacted by the Coronavirus pandemic.
• was not a business in difficulty at 31 December 2019 (if it was, you must confirm your business complies with additional state aid restrictions under de minimis state aid rules).
• is engaged in trading or commercial activity in the UK and was established by 1 March 2020.
• is not currently using a government-backed Coronavirus loan scheme, unless the Bounce Back Loan will refinance the whole of the CBILS, CLBILS or CCFF facility.
• is not in bankruptcy or liquidation or undergoing debt restructuring at the time it submits its application for finance.
• derives more than 50% of its income from its trading activity (this requirement does not apply to charities or further-education colleges).

Bounce Back Loans are available to businesses in all sectors, except the following:

• Credit institutions (falling within the remit of the Bank Recovery and Resolution Directive)
• Insurance companies
• Public-sector organisations
• State-funded primary and secondary schools

The borrower remains fully liable for the debt.

What do I need to do to access it?

You will need to fill in a short application form online, which self-certifies that your business is eligible for a loan under BBLS. If your business is eligible, it will be subject to appropriate customer fraud, Anti-Money Laundering and Know Your Customer checks. Some state aid restrictions may apply to your application.

• A guide how to apply can be found here.
• An FAQ on BBLS can be found here.

Who do I need to speak to?

You should speak to your business banking provider or one of the accredited lenders. With high demand for BBLS facilities, finance providers recommend that you approach a lender via their website. Phone lines are likely to be busy and branches may not be able to handle enquiries in person.