To ask Her Majesty's Government what assessment they have made of the effect of the lockdown restrictions in place to address the COVID-19 pandemic on the small business sector over the Christmas period.
15 December 2020
The Government is working closely with Local Authorities in England to support the implementation of grants to support businesses during the Covid-19 pandemic and monitor the distribution of grant funds.
Where local authorities are in Tier 3 (Very High) funding will continue to be provided to support those businesses required to close, through the Local Restriction Support Grant (Closed), a grant up to £1,500 every 14 days.
Alongside those businesses who have been mandated to close, funding will also be provided to support those business who have had their trade adversely affected by restrictions. The Local Restrictions Support Grant (Open) provides further discretionary funding to Local Authorities whilst in Tier 2 and Tier 3 restrictions so they can support businesses that are impacted but not required to close.
The Additional Restrictions Grant was provided to Local Authorities as a one-off lump sum discretionary scheme, providing support to businesses severely impacted by restrictions as well as wider business support.
The Christmas support payment for ‘wet-led’ pubs is a one-off grant payment of £1,000 for wet-led pubs in Tier 2 and 3 who have had their trade effected due to localised restrictions during the Christmas period.
Local Restrictions Support Grant (Sector) will provide funding of grants of up to £1,500 every 14 days for businesses mandated to close on a sector basis, such as nightclubs.
This is in conjunction with the extension of the application deadline to the 31 January 2021 for three Coronavirus business interruption loan schemes – the Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme and the Bounce Back Loan Scheme.
Eligible businesses will be able to ‘top up’ existing Bounce Back Loans should they need additional finance.