Desperately needed cash still in local authority bank accounts

April 21, 2020

Data released on Monday 20 April highlights that many businesses have not received the grants that they are eligible for.

As part of the government’s coronavirus business support package, launched 17 March 2020, the UK government has distributed £12.3 billion to local authorities in England in respect of The Small Business Grants Fund and The Retail, Hospitality and Leisure Business Grants Fund.

As of 20 April 2020, £6.11 billion has been paid out to 491,725 business properties, approximately half of the grant funding allocated (49.58%).

The figures for Cambridgeshire, Peterborough & Stamford do not make for positive reading.

John Bridge OBE DL, Chief Executive of Cambridgeshire Chambers of Commerce, said:
“We are finding that much of the money is still sitting in Local Authority bank accounts when it is so desperately needed by businesses.

“It is difficult to understand the reasons behind this, and how there is such a significant difference between the local authorities that cover our Chamber area.

“It is imperative that the local authorities ensure these funds reach businesses as a matter of urgency. Many of these companies will not survive without these grants, which they are eligible to receive.”

The full set of figures for every Local Authority in the Cambridgeshire Chambers of Commerce area:

Local Council Funds received by government Number of eligible businesses Businesses paid Amount paid % of funds allocated
East Cambridgeshire District Council £15,808,000 1,321 515 £6,125,000 39%
Fenland District Council £21,796,000 1,867 830 £9,110,000 42%
Peterborough City Council £34,450,000 2,806 1,243 £15,040,000 44%
South Cambridgeshire District Council £25,150,000 1,851 672 £14,290,000 57%
Huntingdonshire District Council £30,818,000 2,654 1,255 £19,735,000 64%
Cambridge City Council £22,170,000 1,359 917 £14,555,000 66%
South Kesteven District Council £31,698,000 2,583 1,834 £22,150,000 70%