Chancellor announces grants to help businesses through lockdown
By Rob Freeman | 5th January 2021
Retail, hospitality and leisure businesses will receive grants of up to £9,000 as part of a package announced by Chancellor Rishi Sunak following the introduction of the latest coronavirus lockdown.
The £4.6billion package follows Prime Minister Boris Johnson's announcement of the national lockdown which will run until at least mid-February.
Designed to provide affected businesses with support through to spring, the one-off grants are payable per property and are expected to benefit more than 600,000 businesses.
A further £594million discretionary fund has been made available for other businesses hit by the lockdown which will be distributed through local authorities.
Mr Sunak said: "The new strain of the virus presents us all with a huge challenge - and while 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."
The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under.
- £6,000 for businesses with a rateable value between £15,000 and £51,000.
- £9,000 for businesses with a rateable value of more than £51,000.
David Owen, chief executive of GFirst LEP, said: "We'll be working with partners to do everything we can to support businesses and individuals during the next few tough months - and making the case for the right support to protect our Gloucestershire economy."
Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.