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For You (From Fifty Shades Freed)

Payroll Co-Funding Scheme To Be Extended

The Covid-19 support scheme for vulnerable businesses will continue until the end of the year.

The Payroll Co-funding Scheme for the island's most impacted businesses is to be extended until the end of 2020.

Policy & Resources says there will be a reduction of those eligible for support once the island moves into phase 5c of its exit from lockdown.

While no date has been set to move to phase 5c, when it happens it is expected there will be an increase in travel activity so some sectors will be removed from ongoing support.

These include taxi operators and those businesses reliant on outbound travel and activity will be monitored to ensure support is appropriate.

P&R says that while we remain in phase 5b certain businesses can continue to apply for either 80% or 100% of the minimum wage for employees.

The most likely to require support will be taxi operators, travel agents, tour operators and event organisers.

Retail and hospitality sectors will no longer be eligible to claim during this further extension period and the visitor accommodation sector is being dealt with separately via the Visitor Accommodation Grant scheme.

Deputy Lyndon Trott, Vice-President of the Policy & Resources Committee, says: 'The support we’ve provided so far has been unprecedented and has without question kept many businesses afloat during what has been an incredibly difficult period for those worst affected.

'Since moving into phase 5 and our Bailiwick bubble we have seen many businesses returning to a more secure level of activity, and consequently less have needed our help. But there remain sectors who very much need our continued support and the Policy & Resources Committee has decided to continue with the more targeted approach we have taken in recent months, particularly those businesses impacted by the continued restrictions on travel.

'We are of course keen to ensure that businesses continue to do everything possible to get back onto their feet as quickly as possible. Government-funded support cannot be provided long term so businesses must adapt to the new conditions – as I know many have or are doing – rather than assume financial support from the States will continue. This includes examining all avenues available to them, such as borrowing, to ensure the well-being of their business going forward.'

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