This morning, the Chancellor has announced a further £4.6 billion in new lockdown grants to support business and protect jobs as the nation stays at home to control the virus, protect the NHS and save lives.
This new strain of the virus presents us all with a huge challenge - and whilst the vaccine is being rolled out, the need to tighten restrictions further will have an impact on businesses up and down the country. I know the impact that this will have on retail, hospitality, leisure and tourism business across the Great Yarmouth constituency. It is only right that we help these businesses to get through the months ahead – and crucially help protect lives and livelihoods.
This new introduction of one-off top up grants for retail, hospitality and leisure sectors will help business across Great Yarmouth, as they are able to apply for grants worth up to £9,000 on a per-property basis. A further £594 million is also being made available for Local Authorities to support other businesses not eligible for these grants, but may still be affected by these new restrictions.
These new grants are the latest in a series of multi-billion funding measures to support business and protect jobs, which includes 100% rate relief, the furlough scheme and the extended Self-Employment Income Support Scheme. You can find out comprehensive information about the help available for business on the Government's Covid-19 information pages.There is also a useful online tool that will guide you through what financial support is available for your business.
Throughout the pandemic, we’ve taken swift action to protect lives, jobs and livelihoods. This additional support will help businesses see out these latest restrictions and prepare for a time when they can reopen their doors, while ensuring the jobs and livelihoods they provide across the nation are protected.