New data shows level of government support to businesses in Swindon and Wiltshire

New data shows level of government support to businesses in Swindon and Wiltshire during the coronavirus pandemic.

Nationally, more than £106 billion has been provided to support businesses and individuals.

Locally, 64,000 workers in Wiltshire and 35,500 in Swindon had their jobs protected by the Coronavirus Job Retention Scheme, which allowed employers to furlough workers while the government has provided up to 80 percent of their wages up to £2,500 a month.

Self-employed people also benefited from government grants which do not have to be paid back under the Self-Employed Income Support Scheme: £56,100,000 was claimed in Wiltshire, and £23,700,000 in Swindon.

Government-backed Bounce Back Loans for small businesses of up to £50,000 were issued to the tune of £182,500,187 in Wiltshire and £77,040,139 in Swindon.

And the Coronavirus Business Interruption Loan Scheme, which issued loans of up to £5 million for the largest companies issued £89,264,900 in Wiltshire and £28,834,000 in Swindon.

Commenting on the figures, which were released on Friday (August 7), Chancellor of the Exchequer Rishi Sunak said:

• “I recently set out the government’s next steps towards economic recovery and securing the UK’s long-term prosperity in our Plan for Jobs.
• “As we embark on this next phase, the latest figures demonstrate that we are continuing to support jobs, incomes and businesses across every part of the UK.”

Statistics for the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme take into account payments made until the end of July. The furlough scheme is set to end on 31 October 2020, with the final tranche of the Self-Employed Income Support Scheme opening for applications on August 17.

Business organisations have called for support to be extended in some of the hardest-hit industries.

Speaking in late July BCC Director General Adam Marshall said:

“The time has come for the government to take radical steps to slash the tax burden around employment to help companies pay valued staff, rather than the Revenue. A major boost to the Employment Allowance, and an increase in the threshold for employers’ National Insurance contributions, should both be in the Chancellor’s sights if he wants to help viable companies save jobs as the furlough scheme comes to an end.”

And last week Mike Cherry, national chairman of the Federation of Small Businesses, said:

"As we look to the autumn, it's clear that we cannot afford to pull up the business support drawbridge any time soon. Giving firms £1,000 for every employee they bring back from furlough is welcome, but Job Retention Bonus funds won't manifest until next year – jobs are being lost today."

Meanwhile, the campaign group #ForgottenLtd are still lobbying on behalf of the directors of small limited companies who are not eligible for the self-employment income support scheme.