Economic Situation: Coronavirus

(asked on 1st December 2020) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of the comparative effect of the COVID-19 financial support package on regional economies.


Answered by
 Portrait
Lord Agnew of Oulton
This question was answered on 15th December 2020

The government recognises that every region is feeling the impact of this crisis and has taken unprecedented steps to support people and businesses across the country.

For example, the government has helped over one million employers furlough 9.6 million employments throughout the country, and supported over £60 billion of loans. Regional breakdowns of the uptake of the income support schemes are regularly published on the government’s website.

Additionally, we recognise the impact of local restrictions on businesses and this is why we continue to provide monthly grants to both open and closed businesses in tiers 2 and 3, of up to £2,100 and £3,000 respectively, through the Local Restrictions Support Grants. This is in addition to the funding provided to local authorities in tiers 2 and 3 to enable them to make grants of £1,000 to all wet-led pubs, and the Additional Restrictions Grant, that provided all local authorities with a one-off payment to support their local economies in the Autumn, worth £20 per head.

We collect and monitor regional data on how our economic support schemes are used at regional and local authority level. No final assessment of the impact of the economic support schemes can yet be made.

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