Welsh Gov C19 funding update

News

Gavin Powell Profile Image Gavin Powell 30 Mar 2020

First Minister Mark Drakeford has today announced a new £500 million fund to provide extra support to the Welsh economy, businesses and charities experiencing a sharp drop in trading as a result of the coronavirus (COVID-19) pandemic.

The Economic Resilience Fund aims to plug the gaps in the support schemes already announced by the UK Government, including the Job Retention Scheme and the Self-Employed Income Support Scheme, which will guarantee 80% of people’s wages and income.

The new £500 million Welsh fund will support firms of all sizes, including social enterprises, with a focus on those which have not already benefited from the coronavirus grants already announced by Welsh Government.

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