£5bn Scheme Revealed for High Street Shops and Hospitality Firms

Chancellor Rishi Sunak has revealed a new £5bn scheme for high street shops and hospitality firms in England.

As non-essential retail will open first, those businesses will receive up to £6,000 each.

Those opening later, including hospitality and leisure operators, will be backed by up to £18,000.

Nearly 700,000 shops, restaurants, hotels, hair salons, gyms and other businesses in England will be eligible for the restart grants, which will be distributed directly to firms by local authorities from April.

It will replace the current monthly grant system.

The funding takes the total spent on direct grants to businesses during the pandemic to £25bn, the Treasury said. The devolved nations will receive equivalent extra funding.

Non-essential shops in England, along with outdoor hospitality, will be allowed to reopen from 12 April at the earliest.

 

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