As England and Scotland begin their next national lockdowns, the Chancellor Rishi Sunak has announced further financial support for businesses affected by the new restrictions.
A £4.6bn package of grants have been made available for companies closed by the lockdown. Grants are one-off payments of £9000. This is primarily for non-essential shops, retail and leisure. Although £594m is being made available for companies outside these sectors. This may be something installers in Scotland might wish to look at.
This funding is in addition to the furlough scheme which is due to expire at the end of April. However, with Michael Gove this morning warning that restrictions in England are now likely not to be lifted in mid-February but now at least in March, it’s likely the Chancellor is going to come under pressure to both extend the furlough scheme and bring in further financial support for companies as the timeline of the pandemic drags on.
The Prime Minister is due to give a press conference at 5pm this evening where it’s expected more details of the financial support will be announced.
Devolved nations will be given additional funding via the £4.6bn announced this morning, and the value of the grant will depend on rateable value. To find out more please click here.
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