Department for Business, Energy and Industrial Strategy: Coronavirus

(asked on 11th February 2021) - 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 (a) policies and (b) grant and funding programmes his Department has introduced to provide support to individuals and organisations in response to the covid-19 outbreak; and what funding has been allocated to each of those programmes in the 2020-21 financial year.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 26th February 2021

The Government has provided an unprecedented support package totalling over £280 billion for individuals, businesses and organisations. This includes billions in loans, grants, and business rates relief. We have also published Safer Workplaces guidance for a number of sectors, supporting businesses and employees to operate in a Covid-secure way. Businesses can also access tailored advice through the Business Support Helpline, the Business Support website or through local Growth Hubs in England.

The Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme and the Bounce Back Loan Scheme are all delegated schemes introduced by BEIS and overseen in conjunction with the British Business Bank.

As of 24 January 2021:

  • 1,471,001 loans have been approved under the Bounce Back Loan Scheme, with a total value of £44.74 billion.
  • 87,529 loans have been approved under the Coronavirus Business Interruption Loan Scheme, with a total value of £20.84 billion.
  • 696 loans have been approved under the Coronavirus Large Business Interruption Loan Scheme, with a total value of £5.14 billion.

Between March and September last year, over £11.68 billion was paid out to over a million business premises under the Small Business Grants Fund (SBGF), the Retail, Hospitality and Leisure Grants Fund (RHLGF) and the Local Authority Discretionary Grants Fund (LADGF). Grant funding has also been made available via Local Authorities to help businesses forced to close due to national and localised restrictions, and for businesses severely impacted by restrictions even if not required to close. This includes the Closed Businesses Lockdown Payment (CBLP), the Additional Restrictions Grant (ARG), and the different Local Restrictions Support Grant (LRSG) schemes.

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