To ask the Chancellor of the Exchequer, what financial support from the public purse is available for care providers employing over 250 employees to help those employers cover the cost of statutory sick pay as a result of the covid-19 outbreak for the next six months.
26 March 2020
At Budget, the Government announced a package of measures to support businesses more widely, including increasing the amount businesses can borrow through the Coronavirus Business Interruption Loan Scheme from £1.2m to £5m, and ensuring businesses can access the first 12 months of that finance interest free, as Government will cover the first 12 months of interest payments out of public funds. For more information on the Coronavirus Business Interruption Loan Scheme, please go to: www.British-business-bank.co.uk/CBILS.
The Coronavirus Act includes new legal powers enabling the Government to offer further financial support considered necessary to businesses.
All businesses facing short-term cash flow difficulties, of whatever size, are encouraged to engage with their existing finance providers in the first instance to see what assistance they might be able to provide.