Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000 as England entered a third national lockdown today. The cash is provided on a per-property basis to support businesses through the latest restrictions.
These businesses have been closed until at least February half-term in order to control the Coronavirus pandemic.
A further £594m has also been made available for Local Authorities and Devolved Administrations to support other businesses not eligible for the grants but affected by the restrictions. Any Financial Planners affected by the restrictions should apply to their Local Authority.
The 100% government backed loans scheme has also been extended until March.
The furlough scheme was extended to April last month.
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.”