Coronavirus: Finance and Business
Coronavirus is going to impact on businesses – including care services. Access the latest information and guidance, including how commissioners can support care providers to manage pressures.
£20 million new funding to help smaller businesses recover from the effects of the coronavirus pandemic.
The Minister for Care has written to Directors of Adult Social Care yesterday about the infection control fund. The letter clarifies intentions around the clawback mechanisms to try and reassure providers who have concerns around accepting this funding.
The letter states:
“Where providers have used funding on infection control measures as set out in the Grant Circular or as discussed with the Department, then the Department’s unequivocal position is that this will not be clawed back. I also expect the local authority to provide assurance to each provider to the same effect. I should be clear that the principal policy intent of the clawback provision is to ensure that local authorities distribute all the £600m funding to providers as quickly as possible, and that the department will reclaim any funding that is not distributed by local authorities to providers. While it is also correct that the clawback provisions enable us to recover any grant that is not used for the purposes it was given, to comply with state aid rules, as I have set out we do not envisage using it for such purposes unless there is a fraudulent activity or clear misuse of these public funds.”
The government has pledged £750 million to ensure VCSE can continue their vital work supporting the country during the coronavirus (COVID-19) outbreak, including £200 million for the Coronavirus Community Support Fund, along with an additional £150 million from dormant bank and building society accounts. The guidance has been updated to add other the following others sources of funding: Voluntary and Communities Sector Emergencies Partnership – £4.8 million; and Community Match Challenge – £85 million added.
£90m of the government's £750m VCSE sector support package is being made available to launch the Community Match Challenge and to support the Voluntary and Community Sector Emergencies Partnership.
The Government will boost the fundraising efforts of funders and philanthropists by doubling the money going to charities in England. From 18 July to 31 August 2020, funds raised through selected coronavirus charity campaigns will be matched pound-for-pound through the new ‘Community Match Challenge’.
A list of councils in England that have published transparency returns on how they’ve supported adult social care during the pandemic. Focus is on residential care, but also includes funding made available to other settings.
Public bodies, organisations and charities have produced additional resources that may be useful to employers and employees. Added details about free recovery advice for businesses delivered by Enterprise Nation. Businesses can receive free expert advice on a one-to-one basis from professional and trade body members to help support recovery from COVID-19. The advice covers a range of topics including HR, legal, finance and marketing which will be specific to your business. Access the free advice scheme on Enterprise Nation’s website
Find out what financial support you can get for your business. Includes online business support finder which guides you through a series of questions to identify support that you may be entitled to.
How to apply for breathing space to consider a rescue plan for your company, under measures to support companies and other types of business in financial difficulty.
Government announces interim housing for thousands of rough sleepers taken off the streets during the pandemic to be provided.
Latest ADASS survey reveals additional financial pressures being faced by councils because of the Covid-19 pandemic. Planned savings of £608m to balance budgets and the loss of a minimum of £190m of planned income means that only 4% of directors are confident that their budgets are sufficient to meet their statutory duties. The risk of already fragile care markets failing has significantly heightened as a result of the impacts of Covid-19.
This CPA briefing note provides further information and examples to support care providers’ reports to local authorities. It should be read alongside the Government guidance and related annexes.
The CPA is suggesting a limited number of different areas at a top level against which care providers can easily allocate costs, whilst also giving a series of examples to prompt providers to think about how to consider their full range of costs.
Full guidance on the Adult Social Care Infection Control Fund, and annexes including reporting templates.
£200m is available for small and medium-sized charities / social enterprises in England. This is to help maintain and enhance services for vulnerable people affected by the current crisis and to support organisations experiencing income disruption and/or increased demand.
On 19 March 2020 the government made available £1.6bn to local government to contribute to additional costs associated with the coronavirus pandemic. Adult social care providers expressed some concerns very publicly that the funding was not reaching them. As a result, ADASS undertook a rapid survey of its members to ascertain their responses to supporting providers with additional funding and cash flow issues. ADASS has published the results.
A briefing note for care providers to help them to consider potential issues regarding risk, insurance, liabilities and indemnity. Note: this is not legal advice or formal guidance.
This document describes the progress the UK has made to date in tackling the coronavirus (COVID-19) outbreak, and sets out the plans for moving to the next phase of its response to the virus. It includes sections on: NHS and care capacity and operating model; protecting care homes and smarter shielding of the most vulnerable.
The purpose of this note is to share some financial information that was provided to the Minister of State for Care, Helen Whately, on 9 May. The note estimates the financial pressures in adult social care as approximately £6.606 billion including: costs of PPE, addition staff costs, infection control, and loss of income.
NVCO guidance on how to prepare for the potential impacts of coronavirus on charity's or voluntary organisation's operations and finances.
Charity trustees are grappling with difficult decisions at the moment. NCVO has gathered together some key resources to help your board.
Press release from HM Treasury. The funding has included more than £6 billion to support our health services, free up hospital beds and deliver urgent priorities including acquiring ventilators, diagnostic tests and protective equipment for NHS staff. HM Treasury support will also enable home delivery of medicines to the most vulnerable people in the country, and it has helped support medical and nursing students and retired doctors and nurses to join the front line.
CPA members’ response to Local Government Association’s proposed 10 per cent increase for COVID costs, and 5 per cent increase for increase in National Living Wage. Lisa Lenton, CPA chair says: “Local government leaders have said they are willing to review the situation at the end of April, so that more evidence can be presented to HM Treasury. We will assist them with evidence from our research and we will continue to demand that councils increase the funding available to the care sector, so that it can maintain services and keep people safe during this pandemic.”
This guidance note is for local authority commissioners. It is designed to summarise pressures on social care providers arising from COVID-19, and to put forward ways in which commissioners can alleviate these pressures.
This guidance comes from a shared ambition to ensure that providers are supported to maximise availability of care and support and to remain operationally and financially resilient.
Commissioners will incur extra costs in meeting this guidance, and this will be a suitable use of each local authority’s share of the £5 billion announced in the Spring Budget 2020.
Topics include: collaboration, business continuity planning, cash flow, sick pay, workforce availability, rapid adjustment of support.
Information on Government support for businesses.
Small and medium sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19.
Letter from SoS Matt Hancock to chief executives. £1.6bn of funding to go to local authorities to help respond to COVID-19 pressures across all services. The funding is unringfenced and is intended to help councils address the specific pressures they, and providers, are facing in response to the pandemic.
HMRC has a set up a phone helpline to support businesses and self-employed people concerned about not being able to pay their tax due to coronavirus (COVID-19).
The helpline allows any business or self-employed individual who is concerned about paying their tax due to coronavirus to get practical help and advice.
HMRC helpline 0800 0159 559
information about coronavirus and claiming benefits. Access information online. Benefit Claim Helpline 0800 0556688
Community pharmacies are receiving a £300 million cash boost to ensure they can continue to carry out essential services during the coronavirus outbreak.
Health Secretary announces over £13 billion of debt will be written off as part of a major financial reset for NHS providers.
See all related information on coronavirus.z