More than £65m. paid to firms during pandemic
MORE than £65m. of taxpayers’ money has been paid out to support businesses since the start of the pandemic.
The States of Guernsey has distributed business support payments to almost all industries over the past 18 months.
Hospitality received the most help, with the States paying £18m. towards it. Construction received £10.9m. and the wholesale, retail and repairs sector was paid £9.7m.
Deputy Mark Helyar, treasury lead for the Policy & Resources Committee, said it was important that this data was published.
‘It’s absolutely right that we publish these more detailed figures, as it is the taxpayer who has funded this business support and so they deserve to see where their money has gone,’ he said.
‘Taxpayers should be proud of what their support has achieved, helping viable businesses to survive through what has been a most difficult period.
‘Of course, some businesses have done more than survive – some have thrived. The financial performance of some local businesses has meant that they have been able to repay what they received and that has, and will continue to be, very welcome.’
In April 2020, at the height of the first Covid-19 lockdown period, business support claims reached a peak of £10m. per month before reducing to £1m. out of lockdown restrictions.
These figures are net of any repayments made and the States said the interim update on business support would be followed by a full summary after all business support schemes have been closed.
As previously announced, the payroll co-funding scheme will close at the end of September 2021, with the visitor accommodation scheme and the visitor attraction scheme continuing until the end of March 2022.
