Rishi Sunak announces grant of up to £9,000 to save UK businesses in leisure and hospitality
Author: Joel Griffiths | Tuesday 5th January 2021
Chancellor Rishi Sunak has announced a grant worth up to £9,000 for retail, hospitality and leisure businesses struck by the third count of harsh lockdown restrictions, in England.
A one-off payment is anticipated to benefit more than 600,000 business properties across the UK, at a cost of £4-billion, the Treasury said.
The grant will be provided to firms on a per-property basis. Businesses with a rateable value below £15,000 will receive £4,000 in bursary. £15-51,000 will receive £6,000. £9,000 will go to any property above this level.
“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.” Said Sunak on Tuesday.
During a televised address on Monday, Boris Johnson announced tougher restrictions that will come into force from midnight tonight. The UK saw a record 58,784 more lab-confirmed coronavirus infections, with a further 407 deaths, in the past 24-hours.
The new lockdown restrictions go even further than Tier 4 and will remain in place until at least the middle of February.