News from the Hornchurch and Upminster MP Julia Lopez.
Throughout the coronavirus pandemic, the 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 £160 billion has been provided as part of the Government’s economic response to coronavirus, and the latest statistics from the Treasury now show the scale of that support in Hornchurch and Upminster:
- Over 14,100 workers in Hornchurch and Upminster have been furloughed through the Coronavirus Job Retention Scheme, which has allowed employers to furlough workers while the government has provided up to 80% of their wages.
- 6,000 self-employed workers have been supported through the Self-Employment Income Support Scheme accessing £20,400,000 worth of government grants, which do not need to be paid back, to cover lost earnings.
- Over 2,200 local businesses have been supported through offers of government backed Bounce Back Loans, valued for Hornchurch and Upminster businesses at £69,119,918, which provides loans of up to £50,000 within days of an application.
- 592 local businesses in the retail, hospitality and leisure sector and 11 nurseries that will pay no business rates at all this year.
- 13,910,000 worth of grants has been handed out to businesses in Hornchurch and Upminster, which do not need to be paid back.
To view statistics for the entire country, please use the following link – https://www.gov.uk/government/collections/statistics-on-coronavirus-funding-for-business
Hornchurch and Upminster’s MP, Julia Lopez, welcomed the statistics, saying ‘I am delighted that local businesses and residents have been supported by the government, which has done the right thing to help everyone throughout this pandemic. As we have seen with schemes such as the hugely popular Eat Out to Help Out, I know that the government will continue to support everyone in my constituency as we come out through the other side of this extraordinary period and work together to restart our economy.’