Select committee: Public Accounts Committee
Conclusion 18
Thirteenth Report: Whole of Government Response to COVID-19
Published 23 Jul 2020
Addressed to HM Treasury
Public Accounts Committee Whole of Government Response to COVID-19 All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The government has instituted a range of support measures for businesses to help them cope with the extensive economic disruption caused by COVID-19. These include payments to businesses for furloughed employees, government-backed loan schemes, cash grants and additional reliefs.45 The Department estimates that over one million businesses have benefited from the schemes. For instance, the loan schemes run by the British Business Bank have extended more than £35 billion of finance to businesses.46 In total, the cost of business support measures in place at May 2020 is expected to be at least £82 billion. In addition, the loss of receipts from measures such as deferring VAT payments is expected to total £3.2 billion.47
From: Public Accounts Committee, Thirteenth Report: Whole of Government Response to COVID-19 (HC 404), 23 July 2020
Government response
No government response linked yet: deadline 23 September 2020, 2230 days ago.