New statistics showing the huge Government support to businesses in the constituency have been welcomed by Greg.
Businesses across the constituency have benefitted from £111,190, 288 worth of loans since the start of the coronavirus outbreak. This includes 2,339 Bounce Back Loans – 100 per cent government-backed loans which are interest-free for the first 12 months – worth £71,374, 549. The scheme ensures that small firms who need vital cash injections to keep operating can get finance in a matter of days, with no repayments due during the first 12 months.
In addition, 153 loans have been offered in the constituency at a value of £39,504,739 through the Coronavirus Business Interruption Scheme. This scheme has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.
The Chancellor has also announced that the 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, alongside increasing the cash grants to businesses in England required to shut in local lockdowns to support with fixed costs – worth up to £3,000 per month.
So far, the Government has provided over £200 billion throughout its economic response to coronavirus to support jobs and businesses in the UK.
Greg said: "This year has been hugely challenging for businesses in the constituency but these latest figures demonstrate the scale of support that the Conservative Government has put in place to protect livelihoods and businesses.
“The scale of economic support has been unprecedented, and I continue my campaigning with Ministers to secure sector specific deals for travel companies, the coach sector and those as yet to be supported."
Chancellor of the Exchequer Rishi Sunak added: “Our support for businesses and workers has provided a lifeline to employers up and down the country, supporting people to stay in jobs and protecting livelihoods.
“We will build on this as we move to the next stage of our recovery through the Winter Economy Plan, which will continue to protect jobs and help businesses through the months ahead,” he added.
