Stephen Barclay MP, the chief secretary to the Treasury, has announced the government’s extension of the rent moratorium for an additional nine months.
The measure will assist retailers and hospitality businesses in surviving the year and will prevent landlords from evicting tenants for failing to pay rent throughout the rest of 2021.
In reaction to the extension, Helen Dickinson, chief executive of the British Retail Consortium (BRC), said: “This is a very welcome announcement, addressing an issue of vital importance in the nick of time.
“We will be looking closely at the details, but welcome the continued support provided by government to businesses.”
She added: “Just as retailers feared a wave of legal action by landlords, the government has stepped in to offer both landlords and tenants more time to negotiate. The last 15 months have seen extended periods of forced closure for retailers, preventing many from making the turnover needed to cover rents.
“Retailers need time to trade their way out of debt; this announcement does exactly that. We’re also pleased to see the government adopt our proposal for binding arbitration where agreements between parties cannot be reached.”