Business: Coronavirus

(asked on 2nd March 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans the Government has to support businesses in the event of reduced (a) tourism, (b) leisure and retail spending, (c) consumer confidence, and (d) spending power during the covid-19 outbreak.


Answered by
Nadhim Zahawi Portrait
Nadhim Zahawi
This question was answered on 11th March 2020

The Government is well prepared for this type of outbreak. We will continue to take all necessary precautions, such as engaging with key industry partners to discuss their preparedness planning.

Businesses can access a range of finance through the government-owned British Business Bank. The Government is also working with Her Majesty’s Treasury to actively look at ways to support businesses, especially small-and medium-sized businesses, through this temporary period of disruption. This includes unlocking up to £1 billion of attractive working capital loans to support small businesses, with more as needed.

We are closely monitoring the potential impacts on the UK economy, including on individual businesses, supply chains, and consumers.

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