Scottish businesses share in £2.3 billion of government Covid-19 support
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More than 65,000 businesses in Scotland have received government support to help them through the Covid-19 crisis.
New figures from HM Treasury published today reveal Scotland received more than £2.3 billion of support.
This includes funding which allowed just under a third of employees in Scotland (29.8 per cent) to benefit from the furlough scheme.
Loan schemes have supported businesses across all sectors, but the main beneficiaries have been in the retail, construction and hospitality sectors, including hotels and restaurants, which have been impacted hardest by the pandemic.
Similarly, furlough and the self-employed income support scheme has benefited firms across all sectors, with 155,000 people in Scotland benefitting from the Self-Employment Income Support Scheme.
In addition, the UK government gave a commitment last week that the Scottish Government will receive a minimum of £1.9 billion in additional funding this year. This is on top of £4.6 billion confirmed since March to help provide support following the coronavirus pandemic.
Ahead of a visit to Scotland to see the impact of the government support schemes, the Chancellor of the Exchequer, Rishi Sunak, said: “I’m proud that we have supported more than 65,000 businesses in Scotland through our loan schemes, and we are committed to continuing to support them to bounce back and succeed through the measures set out in our Plan for Jobs.”
Announced last month, the Plan for Jobs initiative will help businesses keep furloughed workers, and includes a £2 billion scheme to subsidise jobs for young people
The government is also creating jobs in the construction and housing sectors through funding to decarbonise public sector buildings, and protecting jobs with VAT cuts for hospitality and tourism, as well as the Eat Out to Help Out discount scheme.
Scottish Secretary Alister Jack said the UK government was supporting almost 900,000 jobs in Scotland through the pioneering furlough and self-employed schemes.
“The UK government is working hard to help our economy bounce back and we want to see all sectors open again where it is safe to do so," he said.
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