New statistics showing the huge UK Government support to individuals and businesses in the Scottish Borders have been welcomed by local MP John Lamont.
Throughout the coronavirus pandemic, the UK’s Conservative Government has provided a huge and unprecedented package of support to protect both lives and livelihoods through this incredibly challenging period. In total, more than 65,000 businesses in Scotland benefited from over £2.3 billion of support to bounce back from COVID through government-supported loan schemes.
The latest statistics from the Treasury now show the scale of that support in the Borders, where £37,145,088 has been paid out to local businesses in the form of Bounce Back Loans, and support worth £8,694,473 has been offered under the Coronavirus Business Interruption Loan Scheme.
This unprecedented package of support comes on top of the 11,900 people in the Borders who have had their job protected through the Job Retention Scheme and the £12 million worth of Government grants for self-employed.
John Lamont MP said: “This year has been hugely challenging for people and businesses across the Borders. These latest figures demonstrate the UK Government’s commitment to support lives and local livelihoods.
“On top of the 11,900 Borderers supported by the furlough scheme, almost £45 million worth of funding has provided to local businesses from Bounce Back Loans and the Coronavirus Business Interruption Loan Scheme.
“The Chancellor set out his Plan for Jobs last month, announcing the Job Retention Bonus to help businesses keep furloughed workers, an expansion of Worksearch Support including a Flexible Support Fund and a £2 billion Kickstart scheme to subsidise jobs for young people
“Whilst unable to help everyone, this support is hugely welcomed by Borders communities looking to rebuild from the pandemic.
“As we now work to restart our economy, I have no doubt that the Government will continue to support people across the Borders. Schemes such as the hugely popular Eat Out to Help Out are already proving a success at getting customers back into local businesses.
Chancellor of the Exchequer, Rishi Sunak, said: “I’m proud that we have supported more than 65,000 businesses in Scotland through our loan schemes, and we are committed to continuing to support them to bounce back and succeed through the measures set out in our Plan for Jobs.”