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Chancellor announces £594m business support fund

Rishi

Chancellor Rishi Sunak has confirmed a £594m discretionary fund for business impacted during lockdown.

The fund is part of a £4.6bn funding package to support businesses and protect jobs during lockdown.

Announcing the package, the Chancellor 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.

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“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.”

Mobility businesses who are classed as essential retailers and are allowed to remain open during lockdown are not eligible for one-off £9,000 support grants announced by the government as part of the measures, but may be eligible for a portion of the £594m discretionary funding.

Mobility retailers are advised to apply to their local authorities for funding.

Tags : CoronavirusFundingLegislationmobility retail
Lee Peart

The author Lee Peart

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