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New announcement from the Chancellor for further support to businesses

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Following the Prime Minister’s announcement last night of an immediate return to lockdown in England, the Chancellor, Rishi Sunak, has just announced further support for businesses in the “hardest hit sectors” of retail, hospitality, and leisure in the form of new grants aimed at keeping them afloat until the spring.

As part of a total package of new measures worth £4.6bn, grants of up to £9,000 per property will be made available together with a further £594m, which is being offered to local councils to assist other businesses affected outside of these sectors.

“This will help businesses to get through the months ahead – and crucially it will help sustain jobs until they are able to reopen”, the Chancellor has said.

These new measures are in addition to the support already in place. This includes relief from business rates and the extension of the furlough scheme to the end of April 2021.

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