£4.6 billion in new grants to support businesses in third lockdown
Boris Johnson addressed the nation last night announcing a national lockdown until at least the February half-term. Following this, Chancellor Rishi Sunak has today announced that businesses in the retail, hospitality and leisure sectors can receive a one-off grant of up to £9,000.
The grant is to be provided on a per-property basis to help support businesses during the latest restrictions.
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. This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.
A £594 million discretionary fund has also been made available to support other impacted businesses and help to protect jobs. Businesses should apply to their Local Authorities.
The new one-off grants come in addition to existing business support, including grants up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
Other measures include:
- 100% business rates relief for retail, hospitality and leisure businesses
- £1.1 billion existing discretionary funding for Local Authorities
- The furlough scheme extended to end of April
- 100% government backed loans extended until March
Businesses eligible in the retail, hospitality and leisure sectors for the top-up funding can register now for this vital support.
For further information on the one-off top ups to be granted to closed business visit Gov.UK.