To ask the Secretary of State for Transport, what plans the Government has to allocate financial support for the travel industry during the covid-19 outbreak.
Answered on
9 September 2020
The Government recognises the challenging times facing the travel sector as a result of COVID-19. The sector is crucial to the UK’s economy and businesses across the industry will be able to draw on the unprecedented package of economic measures we have put in place during this time.
This includes a Bank of England scheme for firms to raise capital and the Coronavirus Business Interruption Loan Scheme which facilitates access to finance for businesses affected by the outbreak. Firms are also able to access ‘Time to Pay’ scheme which eases restrictions with tax bills and VAT deferrals.
The Government is also ensuring financial support for employees through the Coronavirus Job Retention Scheme covering 80% of furloughed employees’ usual monthly wage costs, up to £2,500 a month, alongside the associated Employer National Insurance contributions and pension contributions. If employees have exhausted all other avenues, they should write to the Transport Secretary.
The Department for Transport is in close contact with the travel sector ensuring that the Government is kept fully aware of the latest developments with all firms and to understand where additional policy measures and address specific industry issues.