Chancellor Rishi Sunak has announced a £9,000 one-off grant for businesses in the retail, hospitality and leisure sectors, as the UK enters its third lockdown since the Coronavirus pandemic began.
The new restrictions, to last at least seven weeks, mean the closure of schools, hospitality, leisure and non-essential retail businesses across England whilst the general public are urged to stay at home apart from for urgent needs and exercise.
The payment is expected to help more than 600,000 businesses in the UK, costing approximately £4 billion, The Treasury announced.
- £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 over £51,000
Announcing the new grant, Chancellor Rishi 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 are 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.”