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Government launches £4.6bn lockdown grant package for businesses

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Businesses in the retail, hospitality and leisure sectors are set to receive a one-off grant worth up to £9,000 to help them through the third national lockdown.

This follows the Prime Minister’s announcement last night that these businesses will be closed until at least February half-term in order to help control the virus.

The cash will be provided on a per-property basis to support businesses through the latest restrictions and is expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK.

A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions. Businesses should apply to their Local Authorities.

The new one-off grants come in addition to 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.

Chancellor Rishi Sunak said: “The new strain of the virus presents us all with a huge challenge – and whilst the vaccine is being rolled out, we have needed to tighten restrictions further.

“Throughout the pandemic, we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring.

“This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”