Small Businesses: Coronavirus
(asked on 17th March 2020) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the guidance published by Public Health England on 16 March 2020, what plans he has to provide additional underwriting to SMEs that will be affected by social distancing.
This question was answered on 23rd March 2020
For businesses which have a policy that covers pandemics, the government’s action is sufficient and will allow businesses to make an insurance claim against their policy. Furthermore, we are providing £10,000 grants to over 700,000 SMEs across England, and increased grants for qualifying retail, hospitality and leisure businesses of up to £25,000 per property. These measures are part of a wider, unprecedented package of support for businesses and workers to ensure as best we can that people remain employed and firms financially secure. The Government stands ready to do whatever it takes to support businesses through this outbreak.
For businesses which have a policy that covers pandemics, the government’s action is sufficient and will allow businesses to make an insurance claim against their policy. Furthermore, we are providing £10,000 grants to over 700,000 SMEs across England, and increased grants for qualifying retail, hospitality and leisure businesses of up to £25,000 per property. These measures are part of a wider, unprecedented package of support for businesses and workers to ensure as best we can that people remain employed and firms financially secure. The Government stands ready to do whatever it takes to support businesses through this outbreak.