Retail Trade: Coronavirus

(asked on 10th June 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will introduce further financial support for retail businesses with lower level of trade than before the covid-19 outbreak; and if he will make a statement.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 15th June 2020

On 11 May the Government published its COVID-19 recovery strategy which sets out our plan for moving to the next phase of our response. The strategy sets out a cautious roadmap for easing existing measures in a safe and measured way. Our aim is that all non-essential retail will be able to reopen by 15 June if the Government’s five tests are met and they follow the COVID-19 secure guidelines. The roadmap will be kept constantly under review, and we will continue to work hard to support business and workers as the situation evolves.

Retail businesses continue to have access to a range of government support measures including:

  • A 12-month business rates holiday for all eligible retail, leisure and hospitality businesses in England
  • Small business grant funding (SBGF) of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • The retail, hospitality and leisure grant fund (RHLGF)
  • The Coronavirus Job Retention Scheme (CJRS)
  • The Coronavirus Business Interruption Loan Scheme (CBILS)
  • The Coronavirus Large Business Interruption Loan Scheme (CLBILS)
  • The Covid Corporate Financing Scheme (CCFF)
  • The Bounce Back Loan Scheme (BBL) for small and micro enterprises
  • VAT deferral for up to 12 months
  • The Time To Pay scheme, through which businesses in financial distress, and with outstanding tax liabilities, can receive support with their tax affairs
  • Protection for commercial leaseholders against automatic forfeiture for non-payment until June 30, 2020

The Business Support website provides further information about how businesses can access the support that has been made available, who is eligible and how to apply - https://www.gov.uk/business-coronavirus-support-finder.

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