Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans he has to provide financial support for businesses affected by covid-19 restrictions announced by Government on 8 December 2021.

Plan B has been designed to help control the virus’s spread while avoiding unduly damaging economic and social restrictions. Throughout the pandemic, the Government has demonstrated that it can respond proportionately to the changing path of the virus, and will continue to do so. The Government has a strong track record of responding quickly, flexibly and comprehensively in supporting jobs, businesses, individuals and families if needed.

As part of our £400bn package of support, businesses will continue to receive considerable support into the spring of next year. Small and medium-sized businesses can access Government-guaranteed finance through the extended Recovery Loans scheme until next June. Businesses will be protected from eviction if they are behind on rent on their premises, thanks to the moratorium in place until March 2022. Where applicable, businesses can also continue to apply for the Additional Restrictions Grant (ARG) scheme through their local authority, which is open until March 2022.

For the sectors who were hardest hit by previous restrictions and may need additional support, there is further support in place. Business rates relief for eligible retail, hospitality and leisure businesses in England is available until March 2022, and hospitality and tourism businesses will continue to benefit from a VAT reduction – paying only 12.5% until March 2022. The arts and culture sector can still access support from the £2 billion Culture Recovery Fund and Sports Recovery Package, and the Film and TV Production Restart Scheme, which is in place until 30 April 2022. While the £800m Live Events Reinsurance Scheme is giving events across the country the confidence needed for organisers to plan for the future.