Data reveals reach of coronavirus support measures

The latest figures include that loans and support worth more than £2.3 billion have been given to more than 65,000 firms in Scotland since the outbreak; around 41,000 businesses in Wales have received more than £1.4 billion in finance; and more than 25,000 businesses in Northern Ireland have received over £1 billion.

The figures also show that businesses up and down England have also benefited from more than £10 billion in business grants, with equivalent funding being made available to the nations through the Barnett formula:

• more than 102,000 business properties in Yorkshire and the Humber received £1.1 billion in grants since the pandemic;
• alongside 119,000 grants made in the south-west, to the value of £1.3 billion; and 
• 131,000 business properties in the north-west receiving over £1.5 billion in support.

Loan schemes, grants and business rates holidays have supported businesses across all sectors. But the retail, construction and hospitality sectors, including hotels and restaurants, have benefited the most, according to Treasury's data. 

A total of 17 per cent of loans went to the construction sector, and all retail, hospitality, and leisure businesses benefited from a 100 per cent business rates holiday – demonstrating how government support helped those businesses that were impacted hardest by the pandemic.

"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," said the Chancellor of the Exchequer, Rishi Sunak.

"As we embark on this next phase, the latest figures demonstrate that we are continuing to support jobs, incomes, and businesses across every corner of the UK."

As well as loan schemes, grants and business rates holidays, around a third of employees in every region benefited from the furlough scheme. 

The Chancellor set out his Plan for Jobs last month, which will support jobs with the Job Retention Bonus to help businesses keep furloughed workers, and expand Worksearch Support, including a Flexible Support Fund and a £2 billion Kickstart scheme to subsidise jobs for young people.

"Our unprecedented package of support has helped firms of all sizes, in all sectors, and in every corner of our United Kingdom," said Business Secretary Alok Sharma.

"Today’s data shows just how big an impact our measures have had, providing breathing space for millions of businesses, safeguarding jobs and protecting people’s incomes.

"As we bounce back from the pandemic, we will continue to prioritise jobs and skills, while placing the environment at the heart of our recovery."