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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Jersey Business Disruption Loan Guarantee Scheme: Amendment to exclusions

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A decision made on 14 May 2020

Decision Reference: MD-TR-2020-0054

Decision Summary Title:

Jersey Business Disruption Loan Guarantee Scheme: amendment to exclusions

Date of Decision Summary:

13th May 2020

Decision Summary Author:

Lead Policy Advisor, Financial Services

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title:

Jersey Business Disruption Loan Guarantee Scheme: amendment to exclusions

Date of Written Report:

13th May 2020

Written Report Author:

Lead Policy Advisor, Financial Services

Written Report :

Public or Exempt?

Public

Subject: Changes to exclusions in the Jersey Business Disruption Loan Guarantee Scheme

Decision(s): The Minister decided to amend the sectors eligible for the Jersey Business Disruption Loan Guarantee Scheme, established by MD-TR-2020-0030. This change makes the scheme available to all local businesses, subject to the wider conditions of the scheme.

Reason(s) for Decision: The decision ensures appropriate alignment of eligible sectors across the range of measures to support the economy due to Covid-19 related disruption. It also ensures that all businesses impacted by Covid-19 have a mechanism of economic support available to apply for, where they cannot secure bank financing.

Resource Implications: This decision increases the number of businesses who are eligible to benefit from bank lending underwritten by a Government of Jersey guarantee. However it does not increase the limits of that guarantee, so does not have direct implications on Government of Jersey finances.

Action required: Lead Policy Advisor, Financial Services to ensure this decision is published on www.gov.je. The decision is also to be communicated to the banks who are participants in the Jersey Business Disruption Guarantee Scheme, and contractual changes between the Government of Jersey and participant banks reflected where necessary.

Signature:

 

 

Position: 

Senator Ian Gorst

Assistant Minister for Treasury and Resources

Date Signed:

 

Effective immediately

 

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