Mixed reactions to chancellor’s £1bn bailout for hospitality - as it happened

Rolling live coverage of business, economics and financial markets as US and European stock markets rose following the previous session's falls, despite investor fears about the spread of the Omicron variant

• UK public borrowing surged in November as Covid cases rose again
• UK retail sales slowed after the government's move to Covid plan B measures
• Analysis of the chancellor's 1bn bailout for struggling hospitality businesses

Reactions are rolling in to the chancellor's announcement of 1bn funding for hospitality firms, and while the support is broadly welcomed, it's clear that plenty of businesses are feeling like this pre-Christmas offer is too small and too limited.

The British Beer and Pub Association said this assistance is a vital lifeline for many".

These measures will go some way to protect and compensate those most adversely affected.

However, with the unwinding of a number of remaining support schemes at the end of Q1 2022, such as the VAT reduction for hospitality and business rates support, businesses also need the reassurance that these measures will now last for longer into 2022.

the spread of the Omicron variant means businesses in the hospitality and leisure sectors are facing huge uncertainty, at a crucial time.