Covid-19: Jersey financial support for businesses extended

Financial support for Jersey businesses affected by coronavirus restrictions will be extended until the end of June.

The island is set to lift all lockdown measures by 14 June when the need for support will end, the Government of Jersey said.

Treasury minister Susie Pinel confirmed the government had provided more than £110m in financial support since the pandemic began.

Two schemes tailored to support the tourism sector will be extended.

Those in other affected sectors like hospitality, events and non-essential retail can continue to claim from the co-funded payroll scheme.

This will end for sectors no longer affected in April, the government said.

This allows businesses to claim 80% of wages up to £2,000 a month, while some more badly affected can claim 90% of wages up to £2,500.

Other forms of support which have been extended include the scheme designed to contribute to businesses' fixed costs and a government loan guarantee scheme.

The extension of the schemes is forecast to cost an additional £5.6m, the government confirmed.

In March, the government said the payroll scheme alone had cost £81m over the course of the year.

Minister for Treasury and Resources, Susie Pinel, said: "To date, we have provided over £110 million of funding to local businesses, to enable them to weather the impacts of the much-needed public health intervention."

Lyndon Farnham, Minister for Economic Development, said the government was anticipating businesses would return to "near-normal trading conditions" from mid-June, but they "remain prepared to reintroduce support" if needed.

He said: "The extension of our core financial support schemes from the end of April to the end of June will ensure appropriate support is in place until the remaining restrictions are lifted."

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