This short briefing has been prepared on behalf of the UK construction sector to brief companies and individuals on the ongoing repercussions of the Covid-19 crisis for our sector.
Extended Coronavirus Business Interruption Loan Scheme (CBILS)
The UK government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time.
UK government has also stopped lenders from requesting personal guarantees for loans under £250,000 and has made operational changes to speed up lending approvals.
The government will continue to cover the first twelve months of interest and fees. Please find further details here.
Coronavirus Large Business Interruption Loan Scheme (CLBILS)
A new CLBILS will provide a UK government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m. Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest. Further details of the scheme will be announced later this month. Please find initial details here.
Coronavirus Job Retention Scheme
Over the weekend the UK government has published an update to its guidance on the Coronavirus Job Retention Scheme. Details of the update can be found here.
The Welsh government has published updated advice mandating that all workplaces observe the 2m rule. Detailed guidance will be published when the new regulations come into force on Tuesday (7 April) morning.
All businesses will have to take all reasonable measures to ensure the 2m rule is maintained between people on their premises whenever work is being carried out.
CITB has approved SMSTS and SSSTS refresher courses through remote learning for Site Safety Plus training centres. You can find more out about this from your local centre through the SSP course locator.
Impact of coronavirus on jobs in construction - webinar
Registration is open for a webinar on the impact of coronavirus on jobs in construction and the built environment, to be held on from 1-3pm on Wednesday 8th April.
It will cover all aspects of paid employment in the construction industry during the age of the coronavirus, including the Job Retention Scheme, Furloughing and the Workforce Exchange Programme.
Speakers will include Hannah Vickers, CEO of the Association for Consultancy and Engineering (the author of the CLC Job Retention Guidance); Steve Corbett, Head of Client Solutions at Capita Resourcing, who is managing the Government’s Workforce Exchange Programme; together with experts from UHY Hacker Young and Beale & Co who give a view from the accountancy and legal professions.
To register for this webinar please click here.
ACE has announced a new online webinar series to help its members and the wider industry through the coronavirus crisis.
Attendees will have the opportunity to ask virtual questions to the panel of experts on specific announcements, such as the Coronavirus Job Retention Scheme or Coronavirus Business Interruption Loan Scheme. The webinars are open to anyone with an interest in the topics covered.
People in a Pandemic (07.04.20, 12.00pm)
Exploring the HR and people issues raised by the crisis such as remote working, staff morale and more. Panelists TBA soon.
Communicating in a Crisis (09.04.20, 1.30pm)
With special guest Andy Walker, editor of Infrastructure Intelligence, we will explore the steps you need to take to communicate effectively externally, internally and with stakeholders and clients. Stuart Young, BEIS joins us to help answer any questions.
Previous sessions can be watched here.
The Briefing has been prepared in collaboration between the industry’s leading trade and representative bodies: Association for Consultancy & Engineering, Builders Merchant Federation, Build UK, Chartered Institute of Building, Civil Engineering Contractors Association, Construction Industry Council, Construction Plant-hire Association, Construction Products Association, Electrical Contractors’ Association (ECA), Federation of Master Builders, National Federation of Builders, and Institution of Civil Engineers.
We are grateful to Building, Construction Enquirer, Construction Manager, Construction News, Highways, Infrastructure Intelligence, and New Civil Engineer for support in distribution to the wider industry.