Extended Coronavirus Business Interruption Loan Scheme (CBILS)
The UK Government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time. UK Government has also stopped lenders from requesting personal guarantees for loans under £250,000 and has made operational changes to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees. Please find further details here.
Coronavirus Large Business Interruption Loan Scheme (CLBILS)
A new CLBILS will provide a UK government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest. Further details of the scheme will be announced later this month. Please find initial details here.
Coronavirus Job Retention Scheme
Over the weekend the UK Government has published an update to its guidance on the Coronavirus Job Retention Scheme. Details of the update can be found here
The Welsh Government has published updated advice mandating that all workplaces observe the 2m rule. Detailed guidance will be published when the new regulations come into force on Tuesday (7 April) morning.
All businesses will have to take all reasonable measures to ensure the 2m rule is maintained between people on their premises whenever work is being carried out.
CITB has approved SMSTS and SSSTS refresher courses through remote learning for Site Safety Plus training centres. You can find more out about this from your local centre through the SSP course locator.
Impact of coronavirus on jobs in construction – webinar
Registration is open for a webinar on the impact of coronavirus on jobs in construction and the built environment, to be held on from1-3pm on Wednesday 8th April. It will cover all aspects of paid employment in the construction industry during the age of the coronavirus, including the Job Retention Scheme, Furloughing and the Workforce Exchange Programme. Speakers will include Hannah Vickers, CEO of the Association for Consultancy and Engineering (the author of the CLC Job Retention Guidance); Steve Corbett, Head of Client Solutions at Capita Resourcing, who is managing the Government’s Workforce Exchange Programme; together with experts from UHY Hacker Young and Beale & Co who give a view from the accountancy and legal professions. To register for this webinar please click here.
The Briefing has been prepared in collaboration between the industry’s leading trade and representative bodies: Association for Consultancy & Engineering, Builders Merchant Federation, Build UK, Chartered Institute of Building, Civil Engineering Contractors Association, Construction Industry Council, Construction Plant-hire Association, Construction Products Association, Electrical Contractors’ Association (ECA), Federation of Master Builders, National Federation of Builders, and Institution of Civil Engineers. We are grateful to Building, Construction Enquirer, Construction Manager, Construction News, Highways, Infrastructure Intelligence, and New Civil Engineer for support in distribution to the wider industry.