Cash grants to businesses required to close in England are also being increased. These cash grants are to support business owners with fixed costs; those costs payable even if the business is closed.
Grants will be linked to rateable values of business premises and will paid every two weeks. This should provide extra financial support to businesses across the hospitality sector that are required to close due to COVID restrictions.
- Smaller businesses with rateable values at or below £15,000 will be able to claim £1,300 per month.
- Medium-sized businesses with a rateable value between £15,000 and £51,000 will be able to claim £2,000 per month, and
- Larger businesses will be able to claim £3,000 per month.
The devolved administrations in Scotland, Wales and Northern Ireland will be receiving additional financial support to offer similar measures in the devolved areas, should they choose to do so.