New statistics showing the huge Government support to individuals and businesses in Redditch have been welcomed by Rachel.
Throughout the coronavirus pandemic, the 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 Redditch:
- 15,500 people have had their job protected through the Job Retention Scheme, which has allowed employers to furlough workers while the Government has provided up to 80 per cent of their wages.
- Self-employed people in Redditch have accessed £9.7 million worth of Government grants, which do not need to be paid back, to cover lost earnings.
- £38,901,981 has been paid out to local businesses in the form of Bounce Back Loans, which provides loans of up to £50,000 within days of an application.
- £14,775,000 worth of grants has been handed out to businesses in Redditch which do not need to be paid back.
While much of this support has been focused on supporting people through the immediate crisis, the Government has recently set out the next phase of its economic response.
In June, the Prime Minister unveiled the New Deal for Britain – accelerating billions of pounds worth of infrastructure projects to get the country building and kick start the economy – followed by the Chancellor’s Plan for Jobs in July, which set out how the Government intends to create, protect and support jobs in the months ahead, backed by up to £30 billion. £1 million of this New Deal funding has been allocated to kick-start the Redditch Railway Station improvement scheme.
“This year has been hugely challenging for people and businesses in Redditch, and these latest figures demonstrate the scale of support that the Government has put in place to support lives and livelihoods of my constituents.
“As we now work to restart our economy, I have no doubt that the Government will continue to support people in our local community. Schemes such as the hugely popular Eat Out to Help Out are already proving a huge success at getting customers back into local businesses.
“Never has the Conservatives’ agenda of recharging and unlocking Redditch’s full potential been so important – giving businesses the confidence to retain and hire, create jobs and ensure young people have the opportunity of a better start in Redditch.”