The PRA has welcomed additional support for businesses announced by the Government to help them through the coronavirus crisis.
PRA chairman Brian Madderson said: “With Government advice to avoid public transport, our road network and refuelling capacity becomes ever more vital, so we are pleased that the chancellor has introduced immediate additional measures for petrol filling stations.”
The PRA wrote to the chancellor earlier in the week highlighting the issue of independent petrol filling stations.
In the letter, a range of financial assistance was requested above and beyond the Budget support. The Government has now, on top of the existing multi-billion pound package from the Budget, introduced:
• cash grants of £25,000 per petrol filling station business with rateable value up to £51,000;
• a business rates holiday for all petrol filling stations for 12 months from 6 April 2020;
• initial £330bn of guarantees available as low interest loans;
• Business Interruption Loan Scheme announced in the Budget extended from £1.2m up to £5.0m for small and medium-size businesses with no interest due for the first six months.
Madderson added: “The PRA will continue to liaise closely with all Government departments, including the Department for Business, Energy & Industry Strategy for fuel supply issues, as the resistance against coronavirus is stepped up.”