Sunak: £5 billion grants for businesses hit hardest by Covid

Business, News

Rishi SunakPubs, restaurants, shops and other businesses affected by the pandemic will be kickstarted with a £5 billion funding plan to help them reopen when the restrictions relaxed.

Chancellor Rishi Sunak will announce the details in his Budget on Wednesday.

Hospitality businesses, hotels, gyms, care and leisure centres will be entitled to up to £18,000 per building, while the “restart grants” will be worth up to £6,000.

The Treasury estimates there will be 230,000 businesses eligible for the higher band based on their rateable value, and another 450,000 businesses will also be able to apply.

Local authorities will be responsible for distributing the grant and will receive the funding in April.

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