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UK govt extends support to stop business evictions

21
Sep '20
Pic: Shutterstock
Pic: Shutterstock
UK businesses will be protected from the threat of eviction until this year end, providing commercial tenants with more security and protecting vital jobs, housing, communities and local government secretary Robert Jenrick announced recently. The measures are on top of the £160-billion government financial package to protect jobs, incomes and business throughout and beyond this pandemic.

The government is clear that where businesses can pay their rent, they should do so, as this support is aimed to those businesses struggling the most during the pandemic.

This move will help those businesses most in need of additional support to remain in their premises without the threat of eviction for the rest of this year, giving them the chance to focus on rebuilding their business over the autumn and Christmas period, according to a government press release.

“During this particularly challenging time for businesses, it is crucial that both landlords and tenants have the clarity and reassurance they need to build back better from the pandemic,” business secretary Alok Sharma said.

The government will also extend the restriction on landlords using Commercial Rents Arrears Recovery to enforce unpaid rent on commercial leases, until the end of the year.

In addition to these measures, the government also committed over £35 billion on the furlough scheme, protecting over 9.6 million jobs; around £8.5 billion for nearly 3 million self-employed people; over £15 billion from SME and large business coronavirus business Interruption loans; over £35 billion via over 1 million bounce back loans; over £11 billion in business grants and £10 billion in business rates relief; and over £27 billion in value-added tax deferrals, supporting nearly 500,000 businesses.

Fibre2Fashion News Desk (DS)


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