Arts: Coronavirus

(asked on 28th April 2020) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government what plans they have, if any, to provide quickly accessible grants and loans to (1) artists, and (2) self-employed people working in the creative industries, during the COVID-19 pandemic.


Answered by
 Portrait
Lord Agnew of Oulton
This question was answered on 13th May 2020

The government has made a wide variety of economic support available to help businesses and self-employed people across the economy, including artists and self-employed people working in the creative industries. This includes:

- The Self-employment Income Support Scheme which will allow self-employed people to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 a month. This is initially available for 3 months, but may be extended;

- Bounce Back loans of up to £50,000, 100% guaranteed by the Government. These will be interest-free for the first 12 months. Businesses can apply online through a short and simple form;

- The Coronavirus Business Interruption Loan Scheme for larger financing requirements;

- The option to defer VAT payments;

- Small Business Grants of £10,000 which will be paid to any property in receipt of Small Business Rates Relief or Rural Rates Relief.

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