Following the announcement of the new National lockdown for England (4th of January 2021), and the start of the roll-out of the vaccine, Chancellor Rishi Sunak has unveiled a new £4.6 bn package of help and support. As he said, “it is right to give more support to businesses to get through until spring”. This additional support is for the retail, hospitality and leisure. Those hardest hit industries in the UK were forced to close, due to the CoronaVirus. Now they are forced to stay closed as the new lockdown has been put in place. For individual businesses, the support would be in form of of a one-off cash grant of £9,000. Additionally, local councils will receive half a billion pounds to support the businesses in their areas. All this is on top of the ongoing grant of £3,000 that businesses can already claim. To tide businesses over, the furlough scheme will also be extended until April. After 3rd of of March “We will take stock of our wider support, and set out the next stage in our economic response” Sunak said.
Read more: Furlough now exptended – the latest update