Chancellor announces one-off grants worth up to £9,000 for retail, hospitality, and leisure sectors and a further £594m for other businesses not eligible for them
Following the Government’s announcement of a new national lockdown on 4 January 2021, the Chancellor of the Exchequer Rishi Sunak has today announced that businesses in the retail, hospitality, and leisure sectors are to receive a one-off grant worth up to £9,000 per property.
The new grant will be made on a per-property basis to closed businesses on the following scale:
- £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
Details of how and when payments will be made have not yet been released.
In addition to the one-off grants relating to closed properties, a £594m discretionary fund has also been made available for Local Authorities and Devolved Administrations to support other businesses that are affected by the coronavirus shutdown but not eligible for the one-off grants. Businesses can apply through their Local Authority.
The one-off grants and the new discretionary fund and will provide an estimated £4.6 billion of government support.
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