Rishi Sunak announces £9,000 grants for Sheffield businesses - this is who qualifies
Businesses in the retail, hospitality and leisure sectors are to be given a one-off grant worth up to £9,000, with the measure costing £4 billion across the UK, Chancellor Rishi Sunak has announced.
A £594 million discretionary fund will also made available to support other businesses impacted by the latest lockdown, which is expected to last until at least mid-February.
A government spokesperson said the cash for the retail, hospitality and leisure sectors 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.
Chancellor Rishi Sunak said: “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.”
The furlough scheme has already been extended until the end of March and there are also ongoing loans, grants and tax rule relaxations for businesses and the self-employed.
Official figures showed that the furlough scheme reached £46.4billion before Christmas.
According to ExcludedUK, however, three million self-employed people in Britain have fallen fallen through the cracks in government support schemes.
How much can businesses get?
Businesses with a rateable value of over £51,000 will be eligible for £9,000, while those with a rateable value between £15,000 and £51,000 can get £6,000. Those with a rateable value of £15,000 or under will get £4,000.
The discretionary fund will be made available to local authorities the devolved administrations to support other affected businesses not eligible for the grants. Businesses will need to apply to their local authorities for funding.