Written question WQ83030
- Asked by
- Sam RowlandsConservative
- To be answered by
- Minister for Economy
- Tabled
- Due
- Answered
- Time to answer
- 6 days
Question
In light of the continuation of the two metre social distancing rule in Wales, what additional funding and support will the Welsh Government provide to the tourism sector to ensure that they are not put at a disadvantage to their counterparts in England?
Answer
Answered by Minister for Economy
The Welsh Government has made unprecedented levels of funding available to support Welsh businesses through the pandemic, including through the unique Economic Resilience Fund (ERF) and the non-domestic rates (NDR) linked grants. To date we have provided more than £2.5bn in financial support, safeguarding over 160,000 Welsh jobs. A 100% rates relief scheme for our hardest hit sectors is also running for 12 months while comparable businesses in England are now liable for rate payments.
The latest round of the Economic Resilience Fund (ERF) provides emergency and transition grants of up to £25k to eligible businesses to help meet their operating costs (excluding staff wages) for the period between 1st July 2021 and 31st August 2021. The package provides grants to businesses that remain closed or continue to be materially affected by Covid-19 alert level 2 and the transition to alert level one restrictions. This will be the final package of emergency support for those that are able to trade, unless Wales re-introduces closure or very significant trading restrictions.
The £380m business rates relief package announced on 3 March provides retail, leisure and hospitality businesses with rateable values up to £500k, and charities in Wales with a straightforward year-long, 100% business rates holiday.
Looking to the future the Welsh Government is developing funding options to help businesses develop and grow beyond the pandemic. Further details will be announced on the Business Wales website: https://businesswales.gov.wales/coronavirus-advice
Alternative funding can be accessed through the Development Bank of Wales with loan and equity funding available immediately to Welsh businesses https://developmentbank.wales/.
Business Wales also has a wide range of non-financial advisory support available. Any business affected is encouraged to visit the Business Wales website https://businesswales.gov.wales or contact the Business Wales helpline on 03000 6 03000. The Business Wales Helpline is available Monday to Friday from 10am to 4pm.