answer text |
<p>The Government has announced unprecedented support for business and workers to
protect them against the current economic emergency including almost £300 billion
of guarantees – equivalent to 15% of UK GDP. Businesses and workers may benefit from
the range of support measures including:</p><p><strong> </strong></p><ul><li><p>The
Coronavirus Job Retention (Furlough) Scheme to support employers with 80% of workers’
salaries up to £2,500 a month.</p></li><li><p>The Self-Employed Income Support Scheme
which provides eligible freelance workers with up to £2,500 per month in grants for
at least three months.</p></li><li><p>The Coronavirus Business Interruption Loan Scheme
and the Large Business Interruption Loan Scheme provide significant access to cash
for eligible businesses in need.</p></li><li><p>The Bounce Back Loan Scheme is a fast-track
finance scheme designed to support small businesses.</p></li></ul><p><strong> </strong></p><p>The
Business Support website provides further information about how businesses can access
the support that has been made available, who is eligible, when the schemes open and
how to apply: <a href="https://www.businesssupport.gov.uk/coronavirus-business-support"
target="_blank">https://www.businesssupport.gov.uk/coronavirus-business-support</a></p><p><strong>
</strong></p><p>In addition to the support packages highlighted, DCMS has also worked
with its arms-length bodies on a range of measures to help our sectors:</p><ul><li><p>Arts
Council England is making £160 million of emergency funding available.</p></li><li><p>Sport
England have launched an economic package of £210m to support the grassroots and community
sport sector.</p></li><li><p>The National Lottery Heritage Fund announced a £50m Heritage
Emergency Fund.</p></li><li><p>Historic England have announced a £2million programme
of grants to support smaller, specialist organisations and projects.</p></li><li><p>Releasing
emergency funding to help community radio stations continue to provide programming
and outreach projects for the communities they serve. Relevant stations were invited
to bid for emergency grants to help meet their core costs through a process administered
by Ofcom.</p></li></ul><p><strong> </strong></p><p>The Government’s economic strategy
will be closely coordinated with the public health strategy to ensure a safe return
to economic activity. We will continue to monitor developments to understand the economic
impacts of COVID-19, including on industries and sectors, and consider how the Government
can best support their recovery.</p><p> </p>
|
|