Mortgage repayment holiday also being introduced for homeowners
More support packages for businesses struggling during the coronavirus outbreak are being brought in.
Treasury Minister Alfred Cannan made the announcement during the government's media briefing this lunchtime:
He also revealed banks in the Isle of Man which offer mortgages have agreed to a repayment holiday for customers, while those who can't afford to pay their rates (the bills for which will still be sent out) will be able to defer:
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