In a press release from HM Treasury, details were announced about a scheme to “provide a safety net to further protect jobs where a business is required to close because they are impacted by Covid 19”.
Businesses in England required to close due to local lockdowns or targeted restrictions will now be able to receive grants worth up to £1,500 every three weeks. To be eligible for the grant, a business must have been required to close due to local COVID-19 restrictions. The largest businesses will receive £1,500 every three weeks and smaller businesses will receive £1,000.
Payments are triggered by a national decision to close businesses in a high incidence area. Each payment will be made for a 3-week lockdown period. Each new 3-week lockdown period triggers an additional payment.
Business Secretary Alok Sharma said: “No business should be punished for doing the right thing, which is why today’s package will offer additional breathing space for businesses that have had to temporarily close to control the virus.”
Other measures announced to protect, support and create jobs include cutting VAT for tourism and hospitality by 15%, a £2 billion Kickstart Scheme, which has opened for applications, and an £8.8 billion investment in new infrastructure, decarbonisation and maintenance projects.