A government cash bailout for the coach industry before it's too late.
- Parliament:
- 2019–24
- Signatures:
- 17,859
- Responded:
- 3 Nov 2020
- Department:
- Department for Transport
The petition
Please help this sector with much needed money so we can keep these companies afloat.
We keep tens of thousands of people in jobs in our sector and hundreds of thousands of people in other industries.
Some companies are already having coaches repossessed!
Without us our country wouldn’t be able to operate the same.
Most companies have had no income since March and may not till next year
Who takes kids to school? Who takes tens of thousands of people on their holidays? Who takes people to the theatres? Who transports the incoming tourists? Who takes you on your campaign trail? Who takes fans to sporting events?
We bring billions of pounds to the UK economy.
We help keep carbon emissions down, as on average each coach trip can take ten cars of the road!
The government's response
The Government announced an unprecedented package of support for companies impacted by COVID-19, including the coach industry, on 17 March 2020.
The Government has announced a range of measures to support companies impacted by COVID-19, including the coach industry. Further changes to the Covid-19 support schemes were made in April to ensure that more businesses could benefit from them. The Government has launched an online support finder tool to help businesses quickly and easily determine what financial support is available to them.
• Bank of England’s Covid Corporate Financing Facility (CCFF) – providing funding to help businesses across a range of sectors to pay wages and suppliers, even while experiencing severe disruption to cashflows.
• “Time to Pay” - HMRC is ready to help all businesses and self-employed individuals, experiencing temporary financial difficulties due to coronavirus, including “Time to Pay” arrangements, which allow the payment of taxes to be deferred.
• Coronavirus Job Retention Scheme - launched on 20 April, this helps firms keep people in employment by allowing businesses to put workers on temporary leave. The Government will pay cash grants of 80% of wages up to a cap of £2,500, providing workers stay employed. The Scheme covers the cost of wages backdated to 1 March. It was initially open for at least three months and has now been extended to the end of October. There is no limit on the amount of funding available for the scheme, and all UK-wide employers with a PAYE scheme are eligible.
• Coronavirus Business Interruption Loan Scheme - has been created to support long-term viable small and medium sized businesses who may need to respond to cash-flow pressures by seeking additional finance. To be eligible, a business must be based in the UK and be impacted by COVID-19, have an annual turnover of no more than £45 million, and be seeking a loan up to £5 million. The scheme is delivered through commercial lenders, backed by the government-owned British Business Bank. There are more than 40 accredited lenders able to offer the scheme, including all the major banks.
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