Key announcements to support people and businesses

In response to the coronavirus (COVID-19) outbreak, Chancellor Rishi Sunak has set out a package of temporary, timely and targeted measures to support people and businesses through this period of disruption.

Support for business includes:

Coronavirus Job Retention Scheme

Deferring VAT and Self-Assessment payments

Self-employment Income Support Scheme

Statutory Sick Pay relief package for small and medium-sized businesses (SMEs)

12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England

Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief

Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000

The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank

A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans

The HMRC Time To Pay Scheme