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<p>On Tuesday evening, the Chancellor announced £330 billion of guarantees for businesses
across the UK and emphasised his commitment to do whatever it takes to see industries
through the Covid 19 outbreak.</p><p>Many charities and social enterprises will be
eligible for the new Business Interruption Loan Scheme for loans of up to £5m, with
no interest due for the first six months. While many charities are already eligible
for 80% charitable rate relief, they will benefit from the new enhanced retail rate
relief at 100%.</p><p>Furthermore, a new power in the Covid 19 bill will ensure the
Chancellor and HMG as a whole can take whatever further financial actions necessary
to support sectors across the economy. The Chancellor has asked cabinet colleagues
to urgently convene meetings over the coming days with business leaders and representatives
in these affected sectors, in order to identify specific opportunities to support
them and their industries.</p>
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