Fact Service January 2021

Issue 1

Treasury announces relief package

The Treasury promised a £4.6 billion support package on Tuesday intended to help companies survive in sectors that will be hardest hit by the new lockdowns. As part of this the chancellor promised one-off grants of up to £9,000 to businesses in the retail, hospitality and retail sectors.

Another £594 million will be allocated to local councils to assist businesses that are affected but not eligible for the new payments. The Scottish government will receive £375 million, the Welsh government £227 million and the Northern Ireland executive £127 million. Firms will not have to pay the grant money back.

https://www.gov.uk/guidance/check-if-your-business-is-eligible-for-a-coronavirus-grant-due-to-national-restrictions-for-closed-businesses