Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the chancellor has announced.
The news comes after the prime minister’s announcement that businesses will be closed until at least February half-term in order to help control the spread of Covid-19. This comes in addition to the £1.1bn in further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and the extension of the furlough scheme
The cash is provided on a per-property basis to support businesses through the latest restrictions, and is expected to benefit over 600,000 business properties, worth £4bn in total across all nations of the UK.
Chancellor Rishi Sunak said: “The new strain of the virus presents us all with a huge challenge – and whilst the vaccine is being rolled out, we have needed to tighten restrictions further.Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring…..