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Covid-19: Business Interruption Insurance - Private Notice Question

Part of the debate – in the House of Lords at 3:10 pm on 17th March 2020.

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Photo of Baroness Barran Baroness Barran The Parliamentary Under-Secretary of State for Digital, Culture, Media and Sport 3:10 pm, 17th March 2020

My noble friend makes a very important point. A new coronavirus business interruption loan scheme, which is being delivered by the British Business Bank, will launch in a matter of weeks—I cannot give a more precise answer than that—to support businesses to access bank lending and overdrafts. In addition, all businesses and self-employed people who are in financial distress in relation to their outstanding tax liabilities may be eligible to receive support with their tax affairs through the HMRC’s time-to-pay service.