Monday, 11 May 2020
Campaign reply - FairFuelUK campaign
Thank you to those constituents who have sent me a copy of email from FairFuelUK seeking further support for hauliers during the corona virus.
In a reply to an earlier campaign email supporting the haulage industry I stated that road transport forms a vital part of the infrastructure of the UK. We all rely on it.
Haulage remains a highly competitive business. I know many companies have ceased trading over the years whilst others have run successful and profitable businesses.
The government has in record time introduced a range of measures to assist businesses. The aim of the government is that those that were viable before the medical crisis will be in a position to continue trading once it passes. The haulage industry presents unique circumstances and challenges and I will do all I can in making further representations to ministers to see what further help can be made.
Many will already be aware of the help the government is offering businesses in a multibillion-pound effort. More details can be found here: https://www.stevedouble.org.uk/covid19
The recent introduction of the bounce back loans is another widely welcomed measure. Here are some of the key features:
Business banking and self-employed personal customers can borrow from £2,000 up to £50,000 for a fixed term of six years. The interest rate will be 2.5%.
The Government will guarantee 100% of the loan and customers will not pay any interest or capital for the first year.
To apply, customers should apply online to their bank.
The application form will ask customers to consider a series of declarations.
If customers are unable to apply online, they should call their bank to discuss next steps.
Having been in business myself for many years I am acutely aware of the pressures that virtually all businesses are facing right now and whilst I will continue to petition for more help on behalf of the haulage industry I also firmly support the provision made by the chancellor to date.