Business: Coronavirus

(asked on 19th October 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to support businesses that (a) operate seasonally, (b) have insufficient funds to see them through winter 2020-21 and (c) will not have an income until spring 2021.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 22nd October 2020

The Government recognises the extreme disruption that Covid-19 is having on businesses, including those that operate seasonally. That is why we have delivered a comprehensive package of support worth over £190 billion, including:

  • The Coronavirus Job Retention Scheme, which continues until the end of October.
  • The Job Support Scheme (JSS), which is supporting businesses operating but experiencing reduced demand. The enhanced JSS is providing substantial wage support to businesses legally forced to close.
  • The Local Restrictions Support Grant Scheme, worth £3,000 per month, for businesses legally forced closed for at least two weeks.
  • The Self-Employment Income Support Scheme for the self-employed.
  • Government-backed loans, which can be applied for until 30 November.
  • The Job Retention Bonus, which will support businesses in January 2021.
  • VAT deferrals and more flexible repayment terms for government backed loans will help businesses manage their cash flow.

The Government is committed to continuing to support businesses and will keep these measures under review.

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