Some local businesses will be able to make claims under the Government’s covid-19 support schemes for an additional two months - an extension that is expected to cost around £5.6 million.
The Visitor Attraction and Events Scheme (VAES), the Visitor Accommodation Support Scheme (VASS), Business Disruption Loan Guarantee Scheme (BDLGS) and Fixed Costs Support Scheme (FCSS) have been extended until June for all eligible businesses.
Meanwhile, the Co-Funded Payroll Scheme (CFPS) will be extended until June for businesses which were significantly affected by the winter 'lockdown lite', including hospitality, events and non-essential retail.
For businesses on the elevated scheme, the subsidy rate will continue to be up to 90% of an employee’s wage, up to a cap of £2,500 a month.
Pictured: The Co-Funded Payroll Scheme will be extended until June as above for businesses which were significantly affected by the Winter Strategy Circuit Breaker, including hospitality, events and non-essential retail.
The standard scheme, which offers a subsidy of up to 80% of wages up to a cap of £2,000 a month, will continue until June for businesses directly linked to the travel sector, such as car hire businesses and inbound passenger services.
For other sectors, the scheme will end as planned in April, with final claims to be made in May.
Ministers said the extension had been decided to support businesses whose activity continues to be affected while the island moves through its Reconnection Roadmap.
Over £110 million has so far been provided to local businesses to help them “weather the impacts of the much-needed public health intervention”, Minister for Treasury and Resources, Deputy Susie Pinel, said. It is expected the extension will cost an extra £5.6 million.
“Although many previously-closed businesses are now re-opening, the tapering of the Co-Funded Payroll Scheme will ensure that the Government can continue to provide the appropriate level of support to businesses that have been most affected by public health measures,” Deputy Pinel said.
The Minister for Economic Development, Tourism, Sport and Culture, Senator Lyndon Farnham, said the Government is currently expecting local businesses to be able to return to “near-normal” trading conditions from mid-June.
“The extension of our core financial support schemes from the end of April to the end of June will ensure appropriate support is in place until the remaining restrictions are lifted,” he said.
“As we have throughout the pandemic, we will continue to keep the business support measures under review and remain prepared to reintroduce support if the prevailing conditions make this necessary in future.”
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