THE SNP have renewed calls for the UK Government to urgently release the £21.3 billion of Covid-19 reserves to support the economy and businesses, further restrictions come into effect today.

In a letter to Chancellor Rishi Sunak, SNP MP Alison Thewliss said Scotland could receive around £1.7bn if the full amount was allocated to devolved spending areas.

Thewliss said: “At a time when businesses face a further tightening of public health measures to tackle the pandemic, and the emergence of new variants of the virus increases pressure on the NHS, it is critical that the Treasury does everything it can to support businesses, the economy and public services.

“While the funding brought forward so far has been welcome, it is clear that the sheer scale of the challenge posed by the coronavirus crisis demands strengthened financial measures to prevent firms from going under, jobs being lost and households pushed into hardship.

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“The UK Government must act now to strengthen support, fix the gaps and extend job support schemes for as long as necessary – rather than setting arbitrary deadlines – and devolve financial powers to Holyrood so it can take the necessary steps.

“Scotland has been left to tackle this pandemic with one hand tied behind our back. It’s clear that only by becoming an independent country will we be able to properly protect our interests, economy, businesses and people’s livelihoods.”

The Scottish Government said yesterday that it paid out more than £55 million in coronavirus support to businesses between October and December.

Figures relating to a number of support funds showed some 13,462 grants totalling £31.4m were made through the Strategic Framework Business Fund, which pays out up to £3000 every four weeks.

At the end of December, 23,254 applications for business support had been made to the fund over two payment periods. A report said: “At the national level, about 58% of applications were accepted. About 21% of applications were rejected, and 1% was either referred or deferred. The remaining 20% was still awaiting processing.”

A further £16.7m was paid via the Covid-19 Restrictions Fund, while £2.7m was paid through furlough top-up payments.

Meanwhile, Thewliss also welcomed a Supreme Court ruling that could see thousands of small businesses receive payouts over insurance claims through the UK’s Business Interruption Scheme.

She said: “It seemed absurd that insurance companies would attempt to refuse payment on business interruption policies on the basis that Covid-19 was not a notifiable disease.”