Support for businesses with up to £9,000 in lockdown grants
THREE LEVELS OF FUNDING FOR RETAIL, HOSPITALITY AND LEISURE FIRMS
EAST Yorkshire retail, hospitality and leisure businesses can claim up to £9,000 from a new £4.6bn fund launched for the new coronavirus lockdown beginning this week.
Shops, cafés, restaurants, bars, pubs and other businesses closed are eligible for one of three grants depending on the rateable value of their premises.
Non-essential businesses in the sector have closed until at least mid-february when current restrictions are set to be reviewed during the school half term.
Chancellor Rishi Sunak said in a statement the funding would help companies get through the restrictions and protect jobs while they remain closed due to coronavirus.
It comes as a further £594m has also been unveiled for local authorities to fund businesses not eligible for the up to £9,000 grant, but are still affected by restrictions.
Hull City and East Riding councils are yet to confirm the details of their share of the latter and how it will be allocated.
Retail, hospitality and leisure firms can claim one-off grants worth £4,000 for each closed property with a rateable value of £15,000 and under.
Those with premises valued between £15,000 and £51,000 are eligible for £6,000, while £9,000 is available for those with property rated above £51,000.
In a statement, the chancellor said: “The new strain of the virus presents us all with a huge challenge and while 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 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.”