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During this difficult time the Treasury recognises the extreme disruption the necessary actions to combat Covid-19 are having on businesses, including important industries such as travel and tourism.
That is why the Government has announced unprecedented support for individuals and businesses to protect against the current economic emergency. This includes grants to smaller businesses, and a package of government-backed and guaranteed loans through the Coronavirus Corporate Financing Facility (CCFF), the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS), and the Bounce Back Loan Scheme. Together these schemes ensure almost all viable UK businesses can apply for a government backed loan.
Travel and tourism industries can also benefit from the Coronavirus Job Retention Scheme and travel agents occupying eligible properties will benefit from the retail, hospitality and leisure business rates holiday.
The government will not be able to protect every single job or save every single business, but these measures will support millions of families, businesses and self-employed people to get through this and emerge on the other side both stronger and more united.