| answer text |
<p>The Government is committed to supporting businesses through this time and has
announced an unprecedented level of financial support. This includes but is not limited
to the Coronavirus Job Retention Scheme, the Job Support Scheme, business loans, tax
deferrals, the Future Fund, and a year-long business rates holiday for all eligible
businesses in the retail, hospitality and leisure sectors.</p><p> </p><p>Some of these
schemes will constitute State Aid, such as the Small Business Grant Scheme and Statutory
Sick Pay (SSP) Rebate Scheme. Businesses eligible for the SSP rebate may claim grants
up to a total of €800,000, as provided for under the EU Commission’s COVID-19 State
Aid Temporary Framework. This is a cumulative amount that must consider other forms
of aid received as grants under the Framework. There is a lower grant allowance for
agriculture at €100,000 and aquaculture and fisheries at €120,000.</p><p> </p><p>Businesses
may also be eligible for business support loans such as the Coronavirus Business Interruption
Loan Scheme (CBILS), the Coronavirus Corporate Financing Facility (CCFF) and the Coronavirus
Large Business Interruption Loan Scheme (CLBILS). Under the Temporary Framework, loan
schemes are not subject to the €800,000 allowance for grants.</p><p> </p><p>In addition,
some support schemes do not constitute State Aid. For example, businesses may be eligible
for the CJRS, VAT Deferral, and Time to Pay, among others.</p><p> </p><p>The combination
of these and other measures constitutes an unprecedented programme of Government support
for businesses to address the impacts of the COVID-19 pandemic.</p>
|
|
