Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what support is available for businesses whose profits have been adversely affected by lower footfall as a result of the covid-19 lockdown restrictions who are ineligible for Government support since they are deemed to be essential businesses.

We have a substantial support package available for businesses regardless of whether they are open or closed. The Chancellor recently announced that the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021. This provides businesses with a grant to cover 80% of the wages of their employees. We have added additional flexibility so it can be used to cover reduced hours as well as for businesses that are closed. To date CJRS has support 9.6 million jobs at the cost of roughly £41.9bn

Likewise, for businesses that remain open but are severely affected by restrictions, the Local Restrictions Support Grant (open) provides up to £2,100 of support per month. They can also access one-off funding through the Additional Restrictions Grant, worth £1.1bn nationally and is distributed by local authorities.

In addition to this support, businesses have also benefited from the access to finance schemes, including the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme (BBLS). Under the BBLS, the government provides lenders with a 100% guarantee to enable them to provide loans between £2,000 and £50,000 to the smallest businesses across the UK with a simple, streamlined application process.

Moreover, all eligible businesses in the retail, hospitality and leisure sectors will pay no business rates in England for 12 months from 1 April 2020. Businesses will also benefit from the reduced rate of VAT for tourist attractions and goods & services supplied by the hospitality sector.