Further to last week’s announcements on 17 March and on 20 March by the Chancellor of the Exchequer of further financial support for businesses affected by the coronavirus crisis, the government announced yesterday (23 March 2020) details of:
- the Coronavirus Business Interruption Loan Scheme (CBILS), an interest-free loan scheme for small and medium-sized firms and
- the Covid Corporate Financing Facility (CCFF), a Bank of England finance option for larger businesses.
You can download below more information in relation to both schemes.
The Second Reading of the Coronavirus Bill 2019-21 took place yesterday. When enacted (which is considered likely to be later this week), amongst other things it will:
- allow UK and devolved ministers “to prohibit or otherwise restrict events or gatherings in England” and “to close premises in England or impose restrictions on persons entering or remaining inside them” for the purpose of (a) “preventing, protecting against, delaying or otherwise controlling the incidence or transmission of coronavirus” or (b) “facilitating the most appropriate deployment of medical or emergency personnel and resources” (as previously reported by us here);
- allow employers to reclaim statutory sick pay funds from HMRC;
- grant a moratorium on commercial landlord sanctions and debt enforcement for at least three months; and
- permit local government meetings (including those at which licensing hearings may take place) to be conducted by videolink as virtual meetings.