Recovery Loan Scheme: Charities

Department for Business, Energy and Industrial Strategy written question – answered at on 21 October 2022.

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Photo of Craig Williams Craig Williams Conservative, Montgomeryshire

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to (a) extend the Government's Recovery Loan Scheme beyond December 2022 for charities, (b) keep the charity small trading exemption at 25% and (c) treat stable grant and donation income as trading income.

Photo of Dean Russell Dean Russell Chair, Speaker's Advisory Committee on Works of Art, Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Charities are currently able to access the Recovery Loan Scheme by self-certifying that they have been impacted by Covid-19. Otherwise, they must derive at least 50 per cent of their turnover from trading activity to access the scheme.

All aspects of the Recovery Loan Scheme are under constant review to ensure that the scheme can meet its objectives.

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No1 person thinks not

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