The Government has announced unprecedented support for business and workers to protect them against the current economic emergency including almost £300 billion of guarantees – equivalent to 15% of UK GDP. Travel and tourism businesses continue to have access to a range of support measures including, but not limited to:
- A 12-month business rates holiday for all eligible retail, leisure and hospitality businesses in England
- Small business grant funding (SBGF) of £10,000 for all business in receipt of small business rate relief or rural rate relief
- The retail, hospitality and leisure grant fund (RHLGF)
- A Discretionary Grant Fund for Local Authorities in England
- The Coronavirus Job Retention Scheme (CJRS)
- The Coronavirus Business Interruption Loan Scheme (CBILS)
- The Coronavirus Large Business Interruption Loan Scheme (CLBILS)
- The Bounce Back Loan Scheme (BBL) for small and micro enterprises
- VAT deferral for up to 12 months
- The Time To Pay scheme, through which businesses in financial distress, and with outstanding tax liabilities, can receive support with their tax affairs
- Protection for commercial leaseholders against automatic forfeiture for non-payment until June 30, 2020 – with an option for the Government to extend if needed.
The Business Support website provides further information about how businesses can access the support that has been made available, who is eligible and how to apply - https://www.gov.uk/business-coronavirus-support-finder.
On 11 May the Government published its COVID-19 recovery strategy which sets out our plan for moving to the next phase of our response. The strategy sets out a cautious roadmap for easing existing measures in a safe and measured way. On 23 June the Government announced that elements of the tourism industry in England, such as hotels and guesthouses – that meet the required social distancing and public health measures – can reopen from 4 July. Options for overseas travel are currently being reviewed.