Chancellor announces financial package to businesses worth £4.6bn

Chancellor announces financial package to businesses worth £4.6bn

With all non-essential shops, leisure and entertainment venues now closed and pubs and restaurants allowed to offer takeaway food only, Chancellor Rishi Sunak has accounced businesses in the sector will receive new grants to help them keep afloat until Spring.

The grants will be worth up to £9,000 per property, the Treasury says.

The help is in addition to business rates relief and the furlough scheme which has already been extended until the end of April.

Mr 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”.

Separately, £594m will be made available to affected firms outside these sectors, Mr Sunak said.

This money will be made available by local authorities.

In total, the package of measures is worth £4.6bn across the UK.