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Scottish businesses receive more than £2.3bn in UK Government coronavirus support

Stefan Rousseau/PA Wire/PA Images

Scottish businesses receive more than £2.3bn in UK Government coronavirus support

Scottish businesses hit by coronavirus and the subsequent lockdown have received more than £2.3bn in support from UK Government loan schemes, according to new official data. 

The bounce back loans scheme, which provides UK Government guaranteed loans to small and medium businesses, has supported around 65,000 SMEs, with businesses in the retail, construction and hospitality sectors, including hotels and restaurants, benefitting the most.

The new figures show 29.8 per cent of employees in Scotland benefited from the furlough scheme.

Speaking ahead of a trip to Scotland, Chancellor Rishi Sunak, said: “I’m proud that we have supported more than 65,000 businesses in Scotland through our loan schemes, and we are committed to continuing to support them to bounce back and succeed through the measures set out in our Plan for Jobs.”

But the chancellor also warned the job retention scheme cannot "carry on indefinitely".

Speaking to the BBC, he said: "It is wrong to keep people trapped in a situation and pretend there is always a job that they can go back to, that won't always be the case.

"In those situations it's better we look forward and provide those people with new opportunities."

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Employment

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