Business: Coronavirus

(asked on 4th October 2021) - View Source

Question to the Department for Education:

To ask Her Majesty's Government what plans they have to support educational travel businesses affected by the COVID-19 pandemic.


Answered by
Baroness Barran Portrait
Baroness Barran
Parliamentary Under-Secretary (Department for Education)
This question was answered on 18th October 2021

The government has worked at pace to provide an unprecedented and comprehensive package of support to help as many individuals and businesses as possible during this challenging period.

The measures introduced include the small business grants, the coronavirus loan guarantee schemes, the Coronavirus Job Retention Scheme (CJRS), the deferral of VAT and income tax payments. These measures have been designed to be accessible to businesses in most sectors and across the UK.

Further measures have been announced by my Right Hon. Friend, the Chancellor of the Exchequer, that build on the significant support already available as well as set out how current support will evolve and adapt. This includes the extension of the CJRS until the end of September 2021, extending and amending the coronavirus loan guarantee schemes to allow businesses more time and greater flexibility to repay their loans, and the extension of the Self-Employment Income Support Scheme grant.

The ‘Pay as you Grow’ measures will give UK businesses that borrowed under the Bounce Back Loan Scheme the option to repay their loan over a period of up to ten years, and benefit from repayment holidays where required.

The Recovery Loan Scheme (RLS), which launched on 6 April 2021, will ensure UK businesses of any size can continue to access loans and other kinds of finance up to £10 million per business as they grow and recover from the disruption of the COVID-19 outbreak. For RLS, the government guarantees 80% of the finance to the lender to ensure they continue to have the confidence to lend to businesses. The scheme is open until 31 December 2021, subject to review.

In line with the autumn and winter plan the Government continues to keep arrangements for international travel and the relaxation of travel restrictions under review.

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