The Chancellor Rishi Sunak has this morning announced £4.6bn of new lockdown grants to support businesses and protect jobs during the third national lockdown.
This includes a one off grant for retail, hospitality and leisure businesses and is worth up to £9,000 per business, to help keep them afloat over the next seven weeks.
Announcing the new measures Mr 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.”
The one-off grant will be provided to firms on a per-property basis, with £4,000 going to those with a rateable value below £15,000, £6,000 to those with a value between £15-51,000 and £9,000 above this level.
There is also a £594m discretionary fund has also been made available for local authorities to support other businesses not eligible for the £9,000 grant impacted by the third lockdown.
