The chancellor has announced £1billion of support for businesses battling cancellations and a downturn in trade vecause of the Omicron Covid-19 crisis.
Among the measures is targeted grant support for businesses in hospitality - accommodation, food and drink providers - along with more cash for other businesses facing a downturn.
Who is eligible?
Hospitality and leisure premises will benefit from targeted grant support as long as they are solvent businesses, and ratepayers in the hospitality and leisure sector.
This includes pubs, hotels, restaurants, bars, cinemas and amusement parks.
How much will they get?
Grants are per premises and the amount paid according to rateable value (RV).
- Businesses in RV £0-15,000 can apply for up to £2,700.
- £15-51,000 can receive up to £4,000
- Over £51,000 can apply for £6,000
It is estimated that this scheme will cost £683 million.
How do I apply and by when?
Details of how to apply and who is eligible have been released. Applications have to be made by February 28. These are the Government guidance notes on the.
Applications are made through the Local Authority.
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Who else can get funding?
Over £100 million of discretionary funding has also been made available for local authorities in England to distribute to other businesses in need on their patch via the Additional Restrictions Grant (ARG).
It is estimated that up to a total of £250 million has yet to be distributed by local authorities.
The ARG top up will be prioritised for those local authorities who have already distributed their existing allocation.
It is intended to support businesses who are impacted by COVID-19 but may not be eligible for the hospitality and leisure grant.
The Government has updated its guidance on the ARG with
Funding for theatres and museums
The Government has announced that £30 million will be made available through the Culture Recovery Fund to support organisations in England such as theatres, orchestras and museums through the winter.
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This builds on nearly £240 million allocated to cultural organisations so far this year or currently available for applications online.
The further funding made available through the Culture Recovery Fund will support the sector until March 2022.