Government Support Summary

GOVERNMENT SUPPORT SUMMARY

Support for Large Businesses:

1. Coronavirus Large Business Interruption Loan Scheme via commercial lenders
2. COVID-19 Corporate Financing Facility run by the Bank of England

Support for Small and Medium Sized Enterprises (SMEs) via:

1. Coronavirus Business Interruption Loan Scheme (CBILS) via commercial lenders
2. Small Business (SB) and Retail/Leisure/Hospitality (RLH) Local Authority Grants
3. Temporary extension of the Retail Discount Scheme for Business Rates to SB/RLH
4. Coronavirus Statutory Sick Pay Rebate Scheme, where government covers cost of SSP
5. VAT payment deferral, plus HMRC’s Time to Pay Scheme
6. Extension of Rent Protection to Commercial Tenancies

Support for Household Incomes via:

1. Coronavirus Job Retention Scheme (CJRS), where employees are furloughed on 80% pay
2. Coronavirus Self-Employed Income Support Scheme (SEISS), for the self-employed
3. Universal Credit (UC), which is more generous, easier to access and quicker to receive
4. Rent and Mortgage Payment Holiday (plus protection against eviction) for three months
5. Hardship Fund of £500 million, given to Local Authorities for Council Tax relief

Note: Each scheme has its own requirements for eligibility