Business: Government Assistance

(asked on 8th December 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the timeframe for the European Commission's response to the UK’s notification of 20 October 2020 requesting approval for providing greater support to businesses under the Temporary Framework.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 14th December 2020

On 20 October, the Government notified the European Commission that it wished to amend the Covid-19 Temporary Framework for UK authorities to increase the budget of the scheme from £50bn to £80bn, to provide for subsidised interest rates for subordinated loans and to include support for uncovered fixed costs.

The Commission approved the re-notified scheme on 8th December 2020. This was within the two-month period which the Commission has to make a preliminary examination of notified aid.

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