Sport Sector: Financial Support

Lord Moynihan Excerpts

Wednesday 25th November 2020 Lords Chamber

[Lord Moynihan (Con) [V]]

My Lords, I very much welcome this Statement as an important rescue package, for that is exactly what it is. I note that £250 million of the £300 million is in the form of loans. When can we expect the terms of the loans and details of the repayment holidays to be finalised, rather than the final deals themselves? I hope that the Minister will commit to a comprehensive review of all Covid-related support for sport by the end of March, when this package ends, because long into 2021 the impact of Covid-19 will still be delivering a hammer-blow to the decimated income statements of both winter and summer sports across the United Kingdom.

[Baroness Barran (Con)]

I thank my noble friend for his question. We will publish the application process and wider conditions for loans in the winter survival package in the next few weeks, but the principle behind the loans is that they should be affordable in terms of both the interest rate and the repayment period. In relation to a review of sport, I am not aware of a formal review of the sort that my noble friend suggests, but I stress that the team in DCMS is working extremely closely with all sports to get as thorough and comprehensive as possible an understanding of the situation and how we can relaunch stronger in the new year.