New lockdown grants announced

Stef Smith
COVID-19, News

With the latest restrictions being put into place, Chancellor Rishi Sunak has announced £4.6bn to support businesses on a per-property basis which will benefit over 600,000 business properties.

Those businesses in the retail, hospitality and leisure are to receive a one-off grant worth up to £9,000, following the prime minister’s announcement that businesses will be closed until at least February half-term.

A further new discretionary fund of £594m will be made available to support other impacted businesses.

This is all in addition to the £1.1bn in further discretionary grant funding for Local Authorities, Local Restriction Support Grants which are worth up to £3,000 a month and the extension of the furlough scheme.

The new one off-grants also come in addition to billions of existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.

The one-off top-ups will be granted to closed businesses as follows:

  • £4,000 for businesses with a rateable value of £15,000 or under
  • £6,000 for businesses with a rateable value between £15,000 and £51,000
  • £9,000 for businesses with a rateable value of over £51,000

For more information

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