Commons Sense

Hansard-based summaries and metrics

<-- Back to proposed bills

Economy Update

17 December 2020

Proposing MP
Rishi Sunak Con
Richmond and Northallerton
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

Rishi Sunak is updating the House of Commons on the extension and continuation of financial support measures in response to the ongoing pandemic.

Action Requested

The Coronavirus Job Retention Scheme (CJRS) will be extended until April 2021, providing 80% salary for unworked hours. Additionally, the closing date for business loan schemes (CBILS, CLBILS, and BBLS) has been extended to the end of March.

Key Facts

  • Over £280 billion spent on support so far.
  • The CJRS will be extended until April 2021.
  • Businesses must cover wages, NICs, and pensions for worked hours under the CJRS extension.
  • Over 1.5 million businesses have been supported with facilities worth more than £68 billion.
  • Closing date for CBILS, CLBILS, and BBLS extended from January to March.
▸ Assessment & feedback
Summary accuracy