Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much of the money allocated for Covid Business Grants have South Tyneside Council returned to his Department; and for what reasons this money was returned.
Across the COVID-19 business grant schemes South Tyneside Council was allocated £59.8 million. Of this £51.5 million was reported as disbursed to eligible businesses with £8.3 million due to be returned to BEIS at the end of scheme reconciliation.
Initial funding allocations were based on estimates of the eligible local business population, with local authorities required to return unallocated funding to BEIS. Further allocation and spend data for each scheme, including guidance on the methodologies of the initial allocations, can be found at https://www.gov.uk/government/publications/coronavirus-grant-funding-local-authority-payments-to-small-and-medium-businesses.