Use of the Industrial Development Act 1982 for Coronavirus related assistance

Department for Business, Energy and Industrial Strategy written statement – made on 18th January 2021.

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Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

I am tabling this statement for the benefit of Hon. Members to bring to their attention spend under the Industrial Development Act 1982. In addition to the obligation to report on spend under the Industrial Development Act annually, the Coronavirus Act 2020 created a new quarterly reporting requirement for spend which has been designated as addressing the effects of coronavirus. This statement fulfils that purpose.

The statement also includes a report of the movement in contingent liability during the quarter. Hon. Members will wish to note that measures such as Local Authority grants, the Coronavirus Job Retention Scheme and Self-Employed Income Support Scheme, and tax measures such as the suspension of Business Rates are not provided under the Industrial Development Act 1982 and hence are not included below.

This report covers the second quarter of 2020, from 1 April to 30 June 2020, in accordance with the Coronavirus Act. The Q1 Written Ministerial Statement was published on 9th July 2020.

Spend under the Coronavirus Act 2020

Under the Coronavirus Act 2020, there is a requirement to lay before Parliament details of the amount of assistance designated as Coronavirus related provided in each relevant quarter.

In the period from 1 April to 30 June 2020, the following expenditures were incurred:

Actual expenditure of assistance provided by Her Majesty’s Government from 1 April 2020 to 30 June 2020

£47,637,000

All expenditure of assistance provided by Her Majesty’s Government from 25 March 2020

£47,637,000

Expenditure by Department

Actual expenditure of assistance provided by:

Department for Business, Energy and Industrial Strategy

£47,600,000

Competition Appeal Tribunal

£37,000

Contingent liability under the Coronavirus Act 2020

Contingent liability of assistance provided by the Secretary of State from 1 April 2020 to 30 June 2020

£30,383,783,770

All contingent liability of assistance provided by the Secretary of State from 25 March 2020

£30,456,183,770