£15m paid out to firms so far in co-funding scheme

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A TOTAL of £15 million has been paid out so far to businesses who have applied for phase two of the government’s payroll co-funding scheme.

Senator Lyndon Farnham Picture: ROB CURRIE. (28372516)

An Economic and International Affairs Scrutiny Panel was told last week that firms were still submitting applications, with a number lodged this week.

Under the scheme, which was launched to help firms through the coronavirus pandemic, the government pays up to 80% of an employee’s wages up to £1,600 a month.

In the Scrutiny hearing, Richard Corrigan, Financial Services, Digital and Enterprise chief officer, said the department was continuing to deal with applications daily and that loan schemes were also available to businesses if they needed to adapt premises for the reintroduction of customers.

He said: ‘We do have loan schemes open to businesses, to adapt a premises or to build a website to continue operating.

‘If businesses need help like this in the first instance they should go to Jersey Business. These loans are designed to make businesses ‘match fit’, if you like, to reopen.

‘In phase two of the [payroll] scheme £15 million has been paid out and that excludes what has come in this week.’

Economic Development Minister Lyndon Farnham said that many of the Island’s businesses had signed up to the scheme and he was yet to come across a business which had not signed up for some form of government help.

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