The Courier & Advertiser (Fife Edition)
UK Government cash helping Scottish firms to bounce back
The UK Government’s support packages are proving just the business for a third of Scotland’s workforce and are key to supporting, protecting and creating jobs across the country.
THE UK Government continues to offer Scottish businesses a “firm” commitment.
A considerable cash splash, worth more than £2.3 billion, has allowed employers affected by the pandemic to recover post-lockdown.
The Bounce Back Loan Scheme, providing UK Government guaranteed loans to small and medium-size operations, has supported 65,000 such enterprises in retail, construction and hospitality sectors.
The UK Government has also offered deferred VAT bills and increased support to individuals through Universal Credit.
At the end of July 936,500 jobs – a third of the country’s workforce – were being backed by the UK Government’s job support schemes, signalling an increase of 45,000 since the end of June.
Chancellor Rishi Sunak said: “I’m proud that we have supported more than 65,000 businesses in Scotland through our loan schemes.
“We are committed to continuing to support them to bounce back and succeed through the measures set out in our Plan for Jobs.”
The UK Government allocated to the Scottish Government an additional £6.5 billion direct funding.
The UK Government also launched the Eat Out to Help Out initiative with more than 3,100 restaurants in Scotland signing up, including independent eateries as well as family favourites such as Pizza Express, Costa Coffee and Nando’s.
The scheme saw half price discounts on meals in participating restaurants from Monday to Wednesday throughout August.
Scottish businesses have been able to put employees on furlough – a period of temporary leave – while applying for a government grant to cover 80 per cent of those workers’ usual monthly wage costs, up to a cap of £2,500 per month, continuing until October.
September sees the UK Government pay 70 per cent of wages up to a £2,187.50 limit while, in October, the government will pay 60 per cent of wages up to a cap of £1,875.