PARLIAMENTARY WRITTEN QUESTION
Travel: Finance (11 June 2021)

The aviation and aerospace sectors are being supported with over £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development.

In addition, the renewed Airport and Ground Operations Support Scheme that the Chancellor announced in his Budget will provide support for eligible businesses with their fixed costs for a further six months, up to the equivalent of their business rates liabilities for the first half of the 2021-22 financial year, subject to certain conditions and a cap per claimant of £4m.

In England, the wider travel and tourism sectors can benefit from the £5 billion package of grant support announced at Budget. This includes Restart Grants worth up to £6,000 if classified as non-essential retail or up to £18,000 if classified as a leisure or accommodation business. This package of support also includes the £425 million top-up to the Additional Restrictions Grant which has already provided Local Authorities (LAs) with £1.6 billion. This funding is at the LA’s discretion and is intended to support businesses which are not eligible for Restart Grants, but which are nonetheless experiencing a severe impact on their business.

The Government continues to review all the economic support schemes, including grant support, as the public health response evolves.