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Business grants and a 100% payroll funding scheme will be introduced if Guernsey is still in lockdown several weeks from now.
Policy & Resources has revealed that a grant scheme will be triggered on Monday 15 February, with the claims process to start immediately on that day, if the island remains in lockdown. In the hope that this lockdown will be shorter than last year's, P&R said the value of the grants will be set at a lower level.
Businesses which operate from commercial premises will be able to claim £2,000, while those without commercial premises will be able to claim £1,000, in both cases subject to a business having monthly overheads of £500 or more.
The Committee has also agreed that 100% payroll co-funding will be made available from Monday 1 March, subject to certain qualifying criteria, if restrictions are still in place.
Pictured: P&R's Treasury lead, Deputy Mark Helyar, said his committee wanted to help businesses to plan ahead.
The Committee had previously announced that eligible businesses will receive 80% of the minimum wage – which is £8.70 per hour - for their employees, requiring them to cover the other 20%.
Deputy Mark Helyar, Treasury lead for the Policy & Resources Committee, has clarified that 100% payroll support would start from the March payroll costs, which would then be claimed at the start of April.
"Since the start of this latest lockdown, we've moved quickly to provide reassurance to businesses that financial support is and will be available to those who need it," he said.
"Although these latest measures refer to upcoming changes, we wanted to get the message out as soon as possible to allow time for businesses to plan ahead. We will continue to review these measures to ensure that businesses are getting the support they need."
“We have also taken the opportunity to seek feedback from industry representatives to ensure the measures are appropriate.”
The list of eligible sectors and details for businesses wanting to apply for payroll co-funding can be found HERE.
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