Lewes MP Maria Caulfield has welcomed new support for businesses announced by the Chancellor, Rishi Sunak.
The government have already set out the economic package of support for businesses over the Winter, including monthly grants for closed businesses worth up to £3,000 per month, extending the furlough scheme to April and providing further SEISS grants to support the self-employed to April.
But given further national restrictions the government will provide additional support to the most affected businesses, worth £4.6 billion across the United Kingdom:
• A one-off grant for closed businesses in England of up to £9,000
• £500 million discretionary funding provided to English local authorities to support local businesses
This support will help businesses get through this difficult period through to the Spring. The government will take further decisions about our economic response to coronavirus and how best to support the economy, businesses and jobs at the Budget on the 3rd March.
Retail, hospitality and leisure business premises forced to close can claim a one-off grant of up to £9,000. The one-off additional grant each business premises will receive depends on their rateable value:
• Businesses with a rateable value of £51,000 or above: £9,000
• Businesses with a rateable value between £15,000 and £51,000: £6,000
• Businesses with a rateable value of £15,000 or below: £4,000
This one-off grant is in addition to the existing monthly closed grants of up to £3,000 per month that businesses continue to be eligible for. These grants are worth over £1 billion in total per month.
It is expected that over 600,000 Retail, Hospitality and Leisure business premises in England to benefit from these grants. Businesses can receive multiple grants, as they are eligible on a per premises basis.
Local authorities will receive the funding for these one-off grants in the week of 11th January, and Maria Caulfield MP is encouraging Lewes District and Wealden District councils to make payments to businesses as soon as possible.
Local authorities in England will also be given an additional £500 million of discretionary funding to support their local businesses.
This builds on and will be allocated in the same way as the £1.1 billion discretionary funding (worth £20 per head of population) which local authorities in England have already received to support their local economies and help businesses impacted.
Maria Caulfield MP said “I welcome the Chancellor’s latest announcement of support for local businesses across the Lewes constituency and I want to encourage those who may be eligible to check the websites of the local councils frequently for updates as to when the funding will be made available. These are difficult times for businesses but we need to ensure that Covid19 is under control, which is why Rishi Sunak and the government have brought in this additional support.”
“If any businesses are having trouble or need help, please do get in contact with me.”