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WQ.418/2021
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY M.R. HIGGINS OF ST. HELIER
QUESTION SUBMITTED ON MONDAY 18TH OCTOBER 2021 ANSWER TO BE TABLED ON MONDAY 25TH OCTOBER 2021
Question
Will the Minister advise members of the name of every business that has received financial support under the Government's Covid-19 support schemes, setting out in each case the amount given to each recipient under each scheme, and the date these funds were received?
Answer
The Government's Covid-19 business support schemes include:
- Co-Funded Payroll Scheme (CFPS)
- Business Disruption Loan Guarantee Scheme (BDLGS)
- Visitor Accommodation Support Scheme (VASS)
- Fixed Cost Support Scheme (FCSS)
- Visitor Events and Attractions Scheme (VAES)
As of 30th September 2021, 67 approved facilities for local businesses have been provided by Jersey banks through the BDLGS, whereby the States of Jersey guarantees 80% of the total amount lent. Of that figure 50 lending facilities are still active, against which £2,348,163.20 is guaranteed by the States.
As the underlying loans are between local banks for local businesses, the terms of the agreements with the banks participating in the Business Disruption Loan Guarantee Scheme, the Minister is unable to publish details of the amounts guaranteed for individual borrowers.
Payment data for claims made under the CFPS during 2020 and for the VAES between October 2020 and June 2021 are already in the public domain and are available on gov.je.
Data relating to claims made for the CFPS during 2021, VEAS claims after June 2021, and claims made under the remaining business support schemes are subject to an on-going audit process. This data will be published following the completion of related audit processes. The expected timing of publication for data to the end of September 2021 is as follows:
- CPFS by 31 December 2021
- VASS by 30 November 2021
- FCCS by 30 November 2021
- VAES by 31 December 2021
A further report providing final data will be published from April 2022 once all relevant schemes have closed.
If this information were to be published now it would be likely to include payments that will be challenged as part of the audit process and may end up being reduced. This would potentially give a distorted picture and mean that a permanent record (via an answer to this question) would have been created that may not be wholly accurate and would differ from the fully audited versions, which will be published as set out above.