£5 million hardship fund opens for Guernsey people

The States of Guernsey has announced a £5 million hardship fund for any islander struggling financially from the impact of Covid-19.

Policy and Resources President, Gavin St Pier made the announcement as part of an initial £30 million emergency fund.

The funds will not be used to help anyone who can already receive existing social security benefits.

Other fresh measures have been laid to help Guernsey's business community which include:

  • Deferral of Social Insurance due in the first two quarters of 2020.

  • Deferral of Commercial TRP, and encouraging landlords to pass this benefit onto business tenants.

  • Deferral of rent payments to the States of Guernsey by business .tenants.

  • Suspension of mooring fees for commercial fishermen.

  • Establishment of a scheme to support banks in providing liquidity to businesses.

President of Policy and Resources insists they are constantly reviewing their measures to keep the island's economy afloat. Credit: ITV Channel TV

The priority here is to ensure we minimise economic damage in terms of employment and businesses that go to the wall. In essence now business should not go to the wall simply as a result of this virus. That's what we're aiming to achieve and that is a significant challenge. Government cannot support the entire economy.

Gavin St Pier, President Policy and Resources Committee