UK businesses in the retail, hospitality and leisure sectors are to be given one-off grants worth up to £9,000, with the measure costing £4bn, the chancellor, Rishi Sunak, has announced.
The payments are expected to support 600,000 business properties across the UK. A further £594m will be made available to councils and devolved nations to support businesses not covered by the new grants.
Sunak said: “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.
“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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