Retail Trade: Coronavirus

(asked on 9th December 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal steps he plans to take to help protect high streets from online competition during the covid-19 outbreak.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 15th December 2020

The Government understands that this is a very challenging time for the UK’s retail sector, and recognises that high street retailers have been disproportionately impacted by the pandemic.

The safe re-opening of our high street retailers is the most effective way we can support businesses. England has now moved back into a regional, tiered approach, and essential and non-essential retail, including indoor and outdoor markets and car boot sales are open in all three tiers. The Government has also extended opening hours in the run up to Christmas and during January - helping to make socially distanced shopping easier and safer.

The Government has also established the Reopening High Streets Safely Fund. The £50 million fund is for councils across England to support their local high streets get safely back to business. This fund builds on longer-term funds already in place to support their revival and boost their economic fortunes including the Future High Streets and Towns Funds.

This is in addition to the wide-ranging support the Government has already delivered: protecting high street jobs through the CJRS which has been extended until March; and protecting businesses with cash grants, Government backed finance through loan schemes, ‘Pay as You Grow’ long-term repayments options, a VAT deferral for up to 12 months, a 12-month business rates holiday; and a moratorium on evictions to protect commercial tenants.

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