At tomorrow’s Budget, Chancellor Rishi Sunak is expected to announce a new £5 billion grant scheme to help England’s struggling high street businesses recover as coronavirus restrictions begin to ease.
Replacing the existing monthly Local Restrictions Grants for closed businesses, the new ‘restart’ grants are expected to help almost 700,000 companies including shops, pubs, clubs, hotels, restaurants, gyms and hair salons.
Non-essential retail businesses will be eligible for grants of up to £6,000 per premises to help them reopen and begin trading safely. Hospitality, hotels, leisure, personal care and gyms, set to reopen later with further restrictions in place, can access up to £18,000, depending on their rateable value for business rates.
Local authorities will administer and distribute the grants in their areas from April 2021.
We’ll be bringing you a full update following the Chancellor’s Budget.