The Chancellor has announced new measures to help businesses in the light of the lockdown announced in the past 24 hours.The measures announced so far are:- One-off top-up grants for retail, hospitality and leisure businesses of up to £9,000 per business premises, broken down as £4,000 for businesses with a rateable value of £15,000 or under; £6,000 for businesses with a rateable value between £15,000 and £51,000; and £9,000 for businesses with a rateable value of over £51,000. These grants are being offered on a per business property basis;
– The one-off top-up grants are in addition to the ongoing grants of up to £3,000 a month that some businesses can already claim;- Today’s announcement also involves an additional £594m fund available to support other sectors;- Extension to Self-Employed Income Support Scheme, with details yet to come;
– Additional funding for devolved administrations to help businesses (£375m for Scottish Government, £227m for the Welsh Govrrnment, and £127m for the Northern Ireland Executive);
– Confirmation of the furlough scheme being extended until the end of April, and the 100 per cent business rates relief as already announced for retail, hospitality and leisure businesses.