Night-time Economy: Coronavirus

(asked on 21st September 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 18 September 2020 to Question 88386 on Coronavirus Job Retention Scheme: Night-time Economy, what options for more effective ways to help those businesses who are still unable to reopen during the covid-19 outbreak is his Department considering.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 28th September 2020

The government is setting out the next phase of its plan to support the economy, following announcement of measures to control the spread of COVID-19. With the resurgence of the virus, and the measures taken to protect people’s health and wellbeing, weighing on the fragile recovery, the government is announcing a targeted package of measures to support jobs and business through the winter months:

• supporting businesses to keep staff on through the introduction of a new Job Support Scheme and an extension to the Self-Employment Income Support Scheme (SEISS) Grant.

• helping the retail, hospitality and leisure sectors through a continuation of the reduction in VAT

• support businesses that face a drop in demand for their services by taking action to relieve the pressure on their finances and help them plan cashflow in the coming months, offering them more generous terms for repayment of deferred taxes and government-backed loans.

• continuing to help businesses to access the finance through extending the application window of the government-backed loan schemes and supporting businesses in enabling them to repay these loans in a sustainable manner.

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