Business: Coronavirus

Treasury written question – answered on 3rd April 2020.

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Photo of Viscount Trenchard Viscount Trenchard Conservative

To ask Her Majesty's Government whether all festival businesses whose financial viability have been affected by the COVID-19 pandemic will be eligible to receive loans equal to the amount of financial damage they have suffered as a direct result of the pandemic; and whether any such loans will require owners or directors of these businesses to pledge their personal assets.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

The government has announced a significant package of financial support for all businesses and organisations, including through the Coronavirus Business Interruption Loan Scheme. Details of this package are available at: www.businesssupport.gov.uk. The government has taken new legal powers in the COVID-19 Bill, enabling it to offer whatever further financial support it thinks necessary to support businesses.

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