Malton MP’s praise for Treasury after £74m is used to support local businesses

The Government’s financial support is providing the base for a strong economic recovery, Malton’s MP said.

Wednesday, 12th August 2020, 8:45 am
Thirsk and Malton MP Kevin Hollinrake said it has been a hugely challenging and worrying time for businesses. Photo submitted

Kevin Hollinrake said the Government is standing firmly behind businesses in North Yorkshire as the area emerges from lockdown and starts to rebuild the economy stronger than ever.

Mr Hollinrake said the latest figures show the extent to which the Treasury has supported jobs, incomes and businesses across all parts of the constituency.

In Thirsk and Malton this means that by the end of June 13,700 workers have been furloughed through the Coronavirus Job Retention Scheme; 5,100 self-employed have made a claim through the Self-employment Income Scheme; 1,884 local businesses have benefitted from the Government-backed Bounce Back Loans and a further 77 businesses have taken advantage of the Government-backed Coronavirus Business Interruption Loan Scheme facilities, totalling £74,729,185.

Altogether 1,146 local business in the retail, hospitality and leisure sector and nine nurseries will pay no business rates this year and 3,707 local businesses have received cash grants of up to £25,000.

Mr Hollinrake said: “This has been a hugely challenging and worrying time for businesses across Thirsk and Malton with thousands of people worried about their future prospects and livelihoods.

“Without this Government support many would have collapsed within weeks of lockdown in March and this would have meant thousands of job losses.

“I congratulate the many businesses which have shown real entrepreneurship over the past six months and have managed to find to find new ways of keeping going.

“I am delighted that many others have now started to trade again and that we can at last welcome back visitors to our beautiful county.

“I want people to know that I am fully supportive of all businesses across the constituency and am here to help wherever I can.”

A message from the editor

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the highest standards in the world.

The dramatic events of 2020 are having a major impact on many of our local valued advertisers and consequently the advertising that we receive.

We are now more reliant than ever on you helping us to provide you with news by buying a copy of our newspaper.

Thank you