WELSH ministers have requested the UK government "urgently intervenes" with extra funds to protect Welsh businesses amid the "unprecedented" challenges of the ongoing coronavirus outbreak.

The Welsh Government last night announced a £200 million support package ­– made up of grants and business rates relief – to help traders cope with the projected loss of footfall as the virus spreads and quarantine measures are tightened.

"The Welsh Government is committed to doing everything possible to support businesses," economy minister Ken Skates said today. "However, we can’t do this alone – and the first minister has today written to the chancellor calling for the UK government to urgently intervene to help businesses deal with this unprecedented situation.”

The epidemic is already having an effect on some of South East Wales' most prominent businesses. Ian Edwards, chief executive of the Celtic Manor resort and the ICC Wales, announced yesterday the two hospitality venues had together lost more than £1 million in cancelled conference bookings in the past 11 days.

Mr Edwards said: “The whole economy will, of course, feel the effects of the coronavirus crisis but the tourism and hospitality industry is very much in the front line and has already felt a sharp downturn in business, owing to a widespread reluctance to travel and mix socially during the recent uncertainty.

“This is going to be felt much more sharply as last week’s medical advice on isolation procedures takes effect and anticipated new measures such as the preclusion of large gatherings will exacerbate this still further."

He called on the Welsh Government to support "far-reaching financial aid" including a moratorium on business rates, payment delay on some charges, a VAT cut for hospitality and tourism, and interest-free loans to the firms worst-hit by the virus.

The Welsh Government's new support package offers 100 per cent business rate relief to retail, leisure, and hospitality businesses with a rateable value of £51,000 or less. Pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bills.

In addition, the Development Bank of Wales announced yesterday a three-month borrowing repayment "holiday" for all its customers.

But finance minister Rebecca Evans said these measures alone would not be enough to protect traders from "the severe drop in custom many are experiencing", and said the Welsh Government would call on Westminster to "act quickly and decisively to provide a very significant support package for vulnerable businesses and their employees".