New lockdown grants of £4.6 billion unveiled

Businesses in retail, hospitality and leisure impacted by the new lockdown will be able to access additional grants of up to £9,000 per premises – with £4.6 billion being made available across the UK.

This support comes in addition to business rate relief and the furlough scheme, which has been extended until the end of April.

Local authorities have also been given another £594 million to help affected firms outside these sectors.

The cash will be 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.

Chancellor Rishi 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.

“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.”