Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of re-opening business grants for companies which remain unable to operate as a result of covid-19 restrictions.

The Government recognises the impact that necessary actions to combat Covid-19 are having on certain businesses.

The Government has provided unprecedented support for individuals and businesses during the pandemic. In addition to the measures announced over the past few months, including COVID-19 lending schemes, the Coronavirus Job Retention Scheme, and business grants, to name just some measures, the Government announced additional support measures on 24 September as part of the Winter Economy Plan. These new measures include:

• The new Jobs Support Scheme, which for six months from 1 November will see the Government contribute towards the wages of employees across the UK who are working fewer than normal hours due to decreased demand related to COVID-19;
• The SEISS Grant Extension, which provides additional taxable grant funding to self-employed individuals who are currently eligible for the SEISS and are actively continuing to trade, but are facing reduced demand due to COVID-19;
• Extending the temporary VAT cut for hospitality and tourism businesses to March 2021;
• Extending the deadline for new applications to four of the COVID-19 loan schemes to 30 November; and
• Help for businesses in repaying loans from Government-backed schemes through the Pay as you Grow scheme and allowing lenders to extend the terms of CBILS loans to up to 10 years.

Earlier this month, we also announced the Local Lockdown Grant Fund (now called the Local Restrictions Support Grants), to enable Local Authorities in England to provide business properties which are required to shut due to nationally-imposed local lockdowns with grants of up to £1,500 for each three week closure period.

Business Grants are a fully devolved policy area, and so it is for the Northern Irish Executive to determine what business grants to provide in Northern Ireland.