Following the Prime Minister’s announcement, the Chancellor announced today a £4.6 billion in new lockdown grants to support businesses and protect jobs.
Businesses in the retail, hospitality and leisure sectors are to receive a one of grant worth up to £9,000.
A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions. Businesses should apply to their Local Authorities.
The new one-off grants come in addition to billions of existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
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 now extended to April and 100% government backed loans, extended until March.