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Retail, hospitality and leisure businesses will be able to get a one off payment of up to £9,000 per property to help them stay afloat during the third coronavirus national lockdown, it has been revealed.
The treasury announced a support package of £4.6bn of further funding to UK businesses to help them get through the months ahead and "sustain jobs."
A one-off payment of up to £9,000 will be available to retail, hospitality and leisure businesses to help them get through the spring.
Closed businesses that have a value of up to £15,000 of under will be eligible for £4,000, businesses valued between £15,000 and £51,000 will have £6,000 made available to them.
The capped £9,000 figure will be granted to businesses with a value of over £51,000.
Another £594 million will be available to local councils and devolved government to support those not eligible for grants.
Chancellor Rishi Sunak 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.
"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."
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The Chancellor’s announcement comes after Prime Minister Boris Johnson said England would enter a third national lockdown from January 4.
Brits have been told they cannot leave their house except for exercise, and essential shopping, and schools will be closed except for vulnerable children and kids of key workers.
Mr Johnson said: "If our understanding of the virus doesn't change dramatically, once again, if the rollout of the vaccine programme continues to be successful, if deaths start to fall as the vaccine takes effect and – critically – if everyone plays their part by following the rules, then I hope we can steadily move out of lockdown, reopening schools after the February half-term and starting cautiously to move regions down the tiers."
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