To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of the covid-19 outbreak on medical research charities in the UK.
9 June 2020
Medical research charities are an important part of the UK’s world-class R&D ecosystem and are contributing directly to combating Covid-19. We know that many charities are struggling and the government is closely monitoring the impacts of Covid-19 on the sector.
Medical research charities can access the comprehensive support the government has made available for employers and businesses. Under these measures, charities can defer their VAT bills and pay no business rates for their shops next year. All charities are eligible for the job retention scheme and the right answer for many charities will be to furlough their employees with the Government paying 80% of wages. Charities are eligible for the Coronavirus Business Interruptions Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme, and the Bounce Back Loans Scheme. Registered charities are now exempt from the requirement that 50% of the applicant’s income must be derived from its Trading Activity.