Stephen Metcalfe, MP for South Basildon & East Thurrock, has welcomed the £4.6 billion package of support for businesses as we head into further national restrictions. Full information on this can be found here.
Yesterday the Chancellor announced a one-off top up grant for retail, hospitality and leisure businesses worth up to £9,000 per property to help them through to the Spring. Alongside this, a £594 million discretionary fund will be made available to support other impacted businesses.
This follows the Prime Minister’s announcement that these businesses will be closed until at least February half-term in order to help control the virus, and, together with the wide range of existing support, provides them with certainty through the Spring period.
Throughout the pandemic the Government has provided a range of support to protect jobs and businesses. Yesterday’s announcement comes in addition to the £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of the furlough scheme (until April 2021).
Further decisions about the Government’s economic response to coronavirus and how best to support the economy, businesses and jobs will be announced at the Budget on 3rd March 2021, although there have been calls for early clarification on what other support will be available.
Stephen Metcalfe: “Throughout the coronavirus pandemic the Government has taken swift action to provide a range of economic support to protect businesses and jobs.
I am pleased that in response to the further national restrictions, additional measures are being rolled out which will protect businesses for the months ahead and help sustain jobs, I also very much hope the Chancellor will make a statement to the House next week to bring forward additional support for hardest hit individuals and sectors.
As the Prime Minister said on Monday, the weeks ahead will be the hardest yet, but I really do believe we are entering the last phase of the struggle and with every jab we are tilting the odds against COVID-19 and in favour of the British people.”