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UK Rolls Out $6.2 Billion Of Business Support For New Lockdown

Business support is a devolved matter in the United Kingdom, meaning the governments in Scotland, Northern Ireland and Wales can direct the funding.

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 Britain will make 4.6 billion pounds ($6.2 billion) worth of grants and financial support available to companies in sectors such as hospitality, retail and leisure to try to help them survive a new COVID-19 national lockdown.

Below are details of the new support:

- One-off top up grants will be given worth up to 9,000 pounds per property to help businesses through to the spring.

- The per-property support is expected to benefit over 600,000 business properties, worth 4 billion pounds in total across all nations of the United Kingdom.

- A 594 million pound discretionary fund will also support other impacted businesses.

- The support comes in addition to 1.1 billion pounds of grant funding for Local Authorities, and Local Restriction Support Grants worth up to 3,000 pounds a month and extension of the job furlough scheme.

- Business support is a devolved matter in the United Kingdom, meaning the governments in Scotland, Northern Ireland and Wales can direct the funding.

- The Scottish government will receive 375 million pounds, the Welsh government will receive 227 million pounds and the Northern Ireland Executive will receive 127 million pounds.

- Finance minister Rishi Sunak said: "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."

(Reuters)


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lockdown united kingdom COVID-19 National Lockdown