Richard Holden, MP for North West Durham, has today welcomed the new support for businesses that has been announced by the Government.
On top of the economic package of support that was made available for businesses over the winter, which you can read about here, here and here, and included the extension of the furlough scheme and monthly grants for businesses, the Government has now announced that further support worth £4.6 billion will be made available.
The new package of support includes:
- A one-off grant for closed businesses of up to £9000
- Retail, hospitality and leisure businesses that have been forced to close can claim this and it depends on their rateable value
- This grant is in addition to the existing grants of £3000 per month and are worth over £1 billion a month
- Businesses can receive multiple grants as they are eligible on a per premises basis
- 600,000 businesses in England will benefit from these grants and local authorities will receive funding to make the grants next week
- £500 million discretionary funding provided to local authorities to support local businesses
- This builds on the £1.1 billion of discretionary funding that local authorities have already received
- Barnett funding of £729 million – this enables the amount given to devolved administrations to be increased
Commenting, Richard said:
“I am really pleased that the Government has announced such a huge amount of new financial support. The new package will support businesses and individuals get through this new lockdown and open up safely once they are able to do so.
“Throughout the whole crisis, the economic priority has been to protect jobs and look after people’s livelihoods and this new support shows that the Government is committed to supporting people across the UK.
“If you have any queries about the new financial support or how to access it, please drop me an email and myself or a member of my team will be able to help.”
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