Section 48 and Schedule 18: Powers to act for the protection of public health: Northern Ireland Section 75: Disapplication of limit under section 8 of the Industrial Development Act 1982
Section 8 of the Industrial Development Act 1982 is the principle general power for the Secretary of State to give financial assistance to business where, in the Secretary of State’s opinion:
the financial assistance is likely to benefit the economy of the UK (or any part or area of the UK);
providing the financial assistance is in the national interest; and
the financial assistance cannot otherwise be appropriately provided.
	The provision of financial assistance under section 8 of the Industrial Development Act 1982 is subject to certain conditions. In particular, subsections (4) and (5) impose an aggregate limit of £12,000 million (£12 billion).
	Under subsections (1) and (2) of this section financial assistance provided under section 8 of the IDA 1982does not count towards the £12 billion aggregate limit where the providing authority designates the financial assistance as related to COVID-19. The providing authority may make that designation if it appears to the authority that the assistance is provided (wholly or to a significant degree) for the purpose of preventing, reducing or compensating for any effect or anticipated effect (direct or indirect) of COVID-19.
	Subsection (3) of this section requires the Secretary of State to report to Parliament as soon as reasonably practicable after the end of any quarter in which the Secretary of State has provided financial assistance designated as "coronavirus-related". The report must include the amount of designated assistance and other details the Secretary of State considers appropriate.
	The territorial extent and application of the section is England and Wales, Scotland and Northern Ireland.