Social Enterprises: Coronavirus

Treasury written question – answered on 25th March 2020.

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Photo of Anneliese Dodds Anneliese Dodds Shadow Minister (Treasury)

To ask the Chancellor of the Exchequer, what support his Department plans to provide for small charities and social enterprises during the covid-19 pandemic.

Photo of Steve Barclay Steve Barclay The Chief Secretary to the Treasury

Last week, the Chancellor announced £330 billion of guarantees for the economy, and charities and social enterprises are an important part of the system. Many charities and social enterprises will be eligible for the new Business Interruption Loan Scheme for loans of up to £5m, with no interest due for the first twelve months. Further, many charities are already eligible for 80% charitable rate relief, they will benefit from the new enhanced retail rate relief at 100%. Charities will also benefit from the new Coronavirus Job Retention Scheme. Further detail of government support is available at: www.businesssupport.gov.uk

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