Businesses: Coronavirus

(asked on 7th July 2020) - 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 support the Government plans to provide to those businesses that cannot currently reopen following their closure due to the covid-19 outbreak.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 13th July 2020

The Government’s priority has been to act to reduce the high levels of Covid-19 infection and this is the best way to support businesses. The sooner the spread of the virus is controlled, the sooner businesses and communities can move towards reopening.

The Government has introduced a comprehensive package of support to help businesses during this difficult period. These include the small business grants, the coronavirus loan schemes, the Coronavirus Job Retention Scheme, deferral of VAT and income tax payment, and more.

As of 5 July, 1.1 million employers have taken advantage of the Coronavirus Job Retention Scheme (CJRS), totalling claims of £27.4 billion and safeguarding 9.4 million jobs. The Self-Employed Income Support Scheme (SEISS) has been accessed by 2.7 million individuals .

Over 867,600 businesses have claimed £10.65 billion through the Small Business Grant Fund (SBGF), and the Retail, Hospitality and Leisure Grant Fund (RHLGF).

As of 5 July, 1.1 million businesses have accessed over £45 billion worth of coronavirus loans, backed by Government guarantees. These range from loans of £,2000, to £200 million.

There has been significant support to date, and there is still funding to be disbursed. BEIS will continue to work closely with local authorities, businesses, and business representative organisations to understand whether there is additional need. Ultimately it is only by controlling the virus that the lockdown can be lifted, allowing businesses to re-open and operate more normally.

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