The UK Government’s response to the Coronavirus pandemic and its impact on our liberty and economy is understandably very much a moving feast. The press appear to be intent on asking variations of the same question regarding the lifting of lockdown restrictions, despite the fact that it is clear restrictions will only be lifted once a certain set of criteria can be met.
Financial support has been forthcoming but has been subject to change as the various schemes have been refined and further measures introduced. We have created the document below to provide an update on the key areas of change as follows:
• Cut-off date for individual eligibility for Coronavirus Job Retention Scheme (CJRS) moved to 19 March 2020.
• CJRS extended to 30 June.
• Revised eligibility requirements for Self-employed Income Support Scheme.
• New £1.25 billion support package for innovative firms
• CBILS loans now total £1.1 billion.
• FCA ‘Dear CEO’ letter to insurance companies.
• FCA temporary measures covering loans, credit cards and other personal finance