Dental practices among ‘79,000 businesses in Scotland’ helped during pandemic, says UK Government

15 October, 2020 / infocus
 Will Peakin  

Businesses in Scotland benefitted from more than £2.9 billion of government support “to protect and support jobs across the region”, according to the Treasury.

More than 76,000 loans worth £2.1 billion under the Bounce Back Loans Scheme “have supported businesses across all sectors, protecting jobs”, it said. More than 3,300 loans worth £758 million have been offered under the Coronavirus Business Interruption Loan Scheme, while 126,000 people in Scotland have benefitted from the Self Employment Income Support Scheme.

The retail and construction sectors have benefitted the most, said the Treasury, “demonstrating how government support helped those businesses that were impacted hardest by the pandemic, helping to keep people in work”.

Rishi Sunak, the Chancellor of the Exchequer, said: “We have provided unprecedented support for businesses and workers up and down the country, protecting jobs and livelihoods.

“Throughout this crisis my priority has always been to protect jobs, and at the Winter Economy Plan, we provided additional help to get businesses through the months ahead.”

The Chancellor announced last Friday that the UK Government’s Job Support Scheme will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions.

Companies across the region including have benefitted from support through government-backed loans, including Macs Adventure, Renfrewshire Electronics and Kintore Dental Practice.

Alistair Jack, the Secretary of State for Scotland, said: “The UK Government is doing all it can to stop the spread of coronavirus and to help Scotland’s economy through these turbulent times. Providing more than £2.9 billion in loans to 79,000 Scottish businesses is a key part of this.

“We are also supporting nearly half a million people in Scotland through our job schemes and have committed a further £9 billion to help employers keep workers on.

“The unprecedented package of measures we have put in place to support all parts of the country shows the clear benefits for Scotland being part of a strong United Kingdom.”

As part of the Winter Economy Plan, the Chancellor announced that more than a million businesses who took out a Bounce Back Loan will now receive “further protection” from the COVID-19 pandemic through flexible repayments, under the ‘Pay as You Grow’ system, which gives businesses more time to repay.

The Treasury said: “The Winter Economy Plan will continue to protect jobs and help businesses through the uncertain months ahead as we adopt a new response to the virus, including through extending the Self Employment Income Support Scheme and 15 per cent VAT cut for the hospitality and tourism sectors.”

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