Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will provide urgent financial support to taxi drivers at risk of having their vehicle repossessed.

The government has provided an unprecedented package of support for individuals through the pandemic. The majority of taxi drivers are self-employed and so may have been able to benefit from the Self-Employment Income Support Scheme (SEISS), which was extended at Budget, through a fourth and fifth grant, until September.

Taxi drivers are amongst the 1.5 million businesses that have accessed the Bounce Back Loan scheme over the past 11 months, which has provided facilities totalling £46.5billion. Taxi drivers experiencing hardship can also apply to the Recovery Loan Scheme, launched earlier this month, which maintains a generous 80% guarantee to ensure lenders continue to have the confidence to lend.

Beyond these schemes, taxi drivers may be able to access other elements of support, including continuation of the uplift in Universal Credit, rental support, mortgage holidays, enhanced Time to Pay for taxes, VAT cuts and deferrals, and other business support grants. At the budget, an extra £425 million business grant funding was announced, on top of the £1.6 billion already allocated, for local authorities to use at their discretion to support local businesses not eligible for Restart Grants, but nonetheless experiencing severe impacts on their business. The taxi and private hire sector may be able to benefit from these recently extended schemes.