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Business: Coronavirus

Question for Department for Business, Energy and Industrial Strategy

UIN 137136, tabled on 13 January 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, what support his Department is providing to businesses that are adversely affected by the covid-19 lockdown announced in January 2021.

Answered on

22 January 2021

My Rt hon Friend Mr Chancellor of the Exchequer announced on the 5th January a further package of support for businesses that are required to close, or which are severely affected by the restrictions put in place to tackle Covid-19 and save lives.

Business that are mandated to close may be eligible for grants of up to £4,500 for every six weeks of closure through the Local Restrictions Support Grant Addendum: 5 January Onward. The Closed Business Lockdown Payment is a one-off payment of up to £9,000 to support business during the difficult Spring period.

A further £500 million of discretionary funding has been made available via the Additional Restrictions Grant, this may be used to support business who have not been mandated to close but had their trade severely affected by restrictions.

We have extended the application deadline for the Bounce Back Loan Scheme, the Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme until 31 March 2021. Bounce Back Loan borrowers will also be able to top-up their loan, extend their loan term to ten years and take advantage of repayment holidays

The Coronavirus Job Retention Scheme will remain open until the end of April 2021, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.