Rishi Sunak announces new 'top-up' grants for businesses as country enters third lockdown

The government has announced today that it will be providing grants for retail and hospitality businesses as the country enters a third lockdown.

Chancellor Rishi Sunak has said that one-off ‘top-up’ grants of up to £9k per property will be provided to businesses in the retail, hospitality and leisure sectors as they close until “at least” February.

A £594m discretionary fund will also be made available to support other impacted businesses, as well as £1.1bn grant funding for local authorities and an extension of the furlough scheme.

Rishi Sunak commented: “The new strain of the virus presents us all with a huge challenge - and whilst the vaccine is being rolled out, we have needed to tighten restrictions further.

“Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the spring.

“This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”