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£4.6bn in business grants announced following latest lockdown

The government has announced £4.6 billion worth of one-off top up grants for retail, hospitality and leisure businesses of up to £9,000 per property to help businesses through the latest lockdown.

£4.6bn in business grants announced following latest lockdown
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  • Adrian Flores
  • January 06, 2021
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The announcement comes as Prime Minister Boris Johnson revealed last night that businesses will be closed until at least February half-term in order to help control the virus, and, together with the wide range of existing support, provides them with certainty through the Spring period.

The cash is provided on a per-property basis to support businesses through the latest restrictions, and is expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK.

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 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,” said Chancellor of the Exchequer Rishi Sunak.

“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.”

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