A summary of key COVID-19-related measures announced by the UK government to support businesses and workers.
Starting with the budget on 11 March 2020, the UK government has outlined significant measures to support British businesses and workers on an unprecedented scale during the COVID-19 outbreak.
These measures include: the COVID-19 Corporate Financing Facility; the Coronavirus Business Interruption Loan Scheme; the Coronavirus Large Business Interruption Loan Scheme; the Job Retention Scheme; the Self-employment Income Support Scheme; statutory sick pay relief; the Retail and Hospitality Grant Scheme; business rates holidays; and certain tax deferrals.
The speed at which the government is acting means that the details of some measures are still developing, and it remains possible that further announcements could be made in due course.
For a full briefing providing a summary of the key UK business measures already announced, please see Latham’s Client Alert.