Business: Coronavirus

(asked on 6th January 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the merits of reintroducing the (a) £10,000 through the Small Business Grant Fund and (b) targeted Retail, Hospitality and Leisure Grant Fund of up to £25,000 to assist businesses forced to close during the January 2021 lockdown.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 12th January 2021

The additional support announced on 5 January is worth £4.6 billion and comes on top of the £1.1 billion already provided to local authorities through the Additional Restrictions Grant, as well as the existing Local Restrictions Support Grant (Closed) which is worth over £1 billion per month under current restrictions. Businesses could receive up to £18,000 over the next three months to the end of March if they are required to close due to COVID-19-related restrictions.

In addition to the grant schemes, we have made available a wider package of support which includes an extension of the furlough scheme until April; an extension of the COVID-19 loan schemes until March; a business rates holiday for all retail, hospitality and leisure business properties; mortgage holidays; enhanced Time to Pay for taxes; and VAT cuts and deferrals.

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