Chancellor Rishi Sunak has announced a further £4.6 billion in new lockdown grants to support businesses and protect jobs.
Following the Prime Minister’s announcement, the chancellor has revealed a one-off top up grant for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses survive through the spring. These businesses have been forced to close until at least February in order to help control the virus.
The cash grant is provided on a per-property basis and is expected to benefit over 600,000 business properties.
The government has also provided 100% business rates relief for retail, hospitality and leisure businesses, £1.1 billion existing discretionary funding for Local Authorities, the furlough scheme has now been extended to April and 100% government backed loans, extended until March.
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