Coronavirus-related Assistance: Industrial Development Act 1982

(Limited Text - Ministerial Extracts only)

Monday 18th January 2021 Written Statements

[The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Paul Scully)]

I am tabling this statement for the benefit of hon. Members to bring to their attention spend under the Industrial Development Act 1982. In addition to the obligation to report annually on spend under the Industrial Development Act, the Coronavirus Act 2020 created a new quarterly reporting requirement for spend which has been designated as addressing the effects of coronavirus. This statement fulfils that purpose.

The statement also includes a report of the movement in contingent liability during the quarter. Hon. Members will wish to note that measures such as local authority grants, the coronavirus job retention scheme and self-employed income support scheme, and tax measures such as the suspension of business rates are not provided under the Industrial Development Act 1982 and hence are not included below.

This report covers the second quarter of 2020, from 1 April to 30 June 2020, in accordance with the Coronavirus Act. The Q1 written ministerial statement was published on 9 July 2020.

Under the Coronavirus Act 2020, there is a requirement to lay before Parliament details of the amount of assistance designated as coronavirus related provided in each relevant quarter.