Retail Trade: Coronavirus

Department for Business, Energy and Industrial Strategy written question – answered on 17th September 2020.

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Photo of Conor McGinn Conor McGinn Shadow Minister (Home Office)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of job losses in the retail sector during the covid-19 outbreak an on regional inequalities.

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

The Government recognises the impact that the coronavirus is having on retailers and businesses as a whole, which is why we have delivered one of the most generous and comprehensive packages of support globally.. Retailers are benefitting from the removal of business rates for 12 months and have been able to access grants through the Small Business Grant Fund or the Retail, Hospitality, and Leisure Grant Fund.

Retailers have been able to benefit from The Coronavirus Business Interruption Loan Scheme, the Coronavirus Job Retention Scheme, the Bounce Back Loan Scheme, and an extension on the moratorium on commercial landlords’ right to forfeiture for the non-payment of rent to 31 December 2020.

Additionally the Job Retention Bonus will encourage businesses, including retailers, to keep on furloughed workers, helping to protect jobs and our economic recovery.

We have announced a new Plan for Jobs – making available up to £30 billion with a clear goal to create, protect, and support jobs. This includes a new £2 billion Kickstart Scheme creating hundreds of thousands of new, fully subsidised jobs for young people across the country and £1.6 billion investment in scaling up employment support schemes, training, and apprenticeships to help people looking for a job.

We are ramping up and bringing forward investment, creating jobs in every part of the UK. At the Budget, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced £88 billion of capital funding for this year. In the New Deal package, we announced our plans to accelerate a further £5 billion of additional investment projects.

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