Chancellor approves grants for businesses closed by lockdown

Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown.

Those businesses affected will be eligible for the following:

• For properties with a rateable value of £15,000 or under, grants to be £1,334 per month, or £667 per two weeks
• For properties with a rateable value of between £15,000-£51,000 grants to be £2,000 per month, or £1,000 per two weeks
• For properties with a rateable value of £51,000 or over grants to be £3,000 per month, or £1,500 per two weeks.

The Chancellor said:

'I have always said that we will do whatever it takes as the situation evolves. Now, as restrictions get tougher, we are taking steps to provide further financial support to protect jobs and businesses. These changes will provide a vital safety net for people across the UK.'

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