New lockdown grants to support businesses in lockdown 3.0

Chancellor Rishi Sunak has announced new lockdown grants to support businesses and protect jobs in the retail, hospitality and leisure sectors.

One-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property will be paid to help businesses through to the Spring.  There will also be a £594 million discretionary fund made available to support other businesses impacted by the restrictions. 

The grants will be in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and the extension of the furlough scheme.

This follows the Prime Minister’s announcement last night of a new lockdown, effective immediately (although not enforceable in law until tomorrow), meaning that these business will be closed until at least February half-term.

The cash grants will be provided on a per-property basis 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

The full announcement is available here: https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs

The full transcript of the Prime Minister’s announcement last night can be found here: https://www.gov.uk/government/speeches/prime-ministers-address-to-the-nation-4-january-2021

©2021 Blackburn BID

Log in with your credentials

Forgot your details?