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1189296
registered interest false more like this
date less than 2020-04-22more like thismore than 2020-04-22
answering body
Department for Digital, Culture, Media and Sport more like this
answering dept id 10 more like this
answering dept short name Digital, Culture, Media and Sport more like this
answering dept sort name Digital, Culture, Media and Sport more like this
hansard heading Social Enterprises: Coronavirus more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Digital, Culture, Media and Sport, what steps his Department has taken to support social enterprises during the covid-19 pandemic. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 38903 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-04-29more like thismore than 2020-04-29
answer text <p>The government recognises the vital work social enterprises and co-operatives are doing to support communities and ease demands on public services in light of Covid-19. In recognising this, we have put in place a number of emergency measures to support these organisations during this time.</p><p><strong> </strong></p><p>The government’s Coronavirus Business Interruption Loan Scheme (CBILS) has been made available to social enterprises and co-operatives. This scheme will provide lenders with a government-backed guarantee of 80% on each loan, ensuring eligible social enterprises and co-operatives gain access to crucial finance with no upfront costs and lower initial repayments. Big Society Capital has established and capitalised a Resilience and Recovery Loan Fund which aims to improve access to CBILS for social enterprises. The initiative has been enabled by the Department for Digital, Culture, Media and Sport (DCMS) accelerating the release of previously committed dormant bank accounts money.</p><p><strong> </strong></p><p>The Coronavirus Job Retention Scheme is also available to social enterprises and co-operatives. This scheme allows employers to claim for a cash grant of up to 80% of a furloughed employee's wages. Many organisations are already accessing this support measure.</p><p><strong> </strong></p><p>Additionally, the government announced a £750 million support package earlier this month for charities. A number of social enterprises that are delivering vital work during the coronavirus outbreak will be eligible to apply for this support package.</p><p><strong> </strong></p><p>Over the coming weeks and months, the government will monitor and evaluate the support that has been provided to social enterprises and co-operatives, and it continues to consider what else can be done. This includes examining further initiatives around access to finance for social enterprises and cooperatives.</p>
answering member constituency Maldon more like this
answering member printed Mr John Whittingdale more like this
grouped question UIN
38902 more like this
38907 more like this
question first answered
less than 2020-04-29T21:06:50.877Zmore like thismore than 2020-04-29T21:06:50.877Z
answering member
39
label Biography information for Sir John Whittingdale more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter