Cabinet Office issues latest key updates for businesses
THE Cabinet Office has asked the Chamber to help it publicise these latest key updates for businesses:
1) Coronavirus Large Business Interruption Loan Scheme: https://bit.ly/CLBILSUpdate
The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme from £50 million to £200 million.
Loans under the expanded scheme will be made available to large businesses affected by coronavirus from next week.
Changes also mean companies receiving help through CLBILS and the Bank of England’s Coronavirus Corporate Financing Fund will be asked to agree to not pay dividends and to exercise restraint on senior pay.
2) Coronavirus Statutory Sick Pay Rebate Scheme: https://bit.ly/SSPLaunchDate
The recently announced Coronavirus Statutory Sick Pay Rebate Scheme will go live from 26th May, when a new online service will be launched for small and medium-sized employers - with fewer than 250 employees - to recover Statutory Sick Pay (SSP) payments they have made to their employees.
Employers will receive repayments at the relevant rate of SSP that they have paid to current or former employees for eligible periods of sickness starting on or after 13 March 2020.
Full guidance can be found here: https://bit.ly/SSPRebateScheme
3) Case studies:
To support businesses to restart their operations, we have been sharing videos of how different companies have effectively applied social distancing measures in their workplaces, via @Cabinetofficeuk and @HMGnorth
The link above is an example of Portakabin explaining how they are ensuring safe working in their factory, yards and customer sites. Any support you can provide to circulate these case studies through your own social media channels would be greatly appreciated.
UK Government departments are hosting a series of webinars to keep businesses updated with the latest advice and guidance:
- for international trade, register for future webinars or watch recorded sessions
- for topics that cover supporting and retaining staff and the self-employed, register to attend future webinars or watch recorded sessions
- for small businesses and changes to reporting, regulation and tax, watch recorded webinars