Coronavirus Job Retention Scheme

Part of Treasury – in the House of Commons on 18th May 2020.

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Photo of Rishi Sunak Rishi Sunak The Chancellor of the Exchequer

As my right hon. Friend will know well, EIS is a notified EU state aid, and that is what presents the challenge to providing EIS relief for convertible loan instruments into the future fund. That said, guidance was published today, and the fund will be open for applications on Wednesday. I have been crystal clear that should applications exceed the initial £250 million provided, I will be more than happy to expand the scheme. I think this will be a vital part of fuelling our recovery, because, as he said, these companies provide the growth of tomorrow and they deserve our support.