Chancellor Rishi Sunak has confirmed a £4.6bn support package for struggling businesses in the retail, hospitality and leisure sectors.
A one-off grant of up to £9,000 will be available to businesses forced to close in these sectors and is expected to support 600,000 business properties.
Another £594 million will be made available to councils and devolved nations to support businesses not covered by the new grants.
The news comes as England enters a third national lockdown, with people told to stay at home and schools across the country told to close until at least February half-term.
The Treasury said the new support grants will offer companies up to £9,000 through to March as part of a £4.6billion package "to support businesses and jobs until the spring."
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The new grants will be in addition to the existing business support and the furlough scheme which has been extended until April this year.
Speaking on Tuesday, Chancellor Rishi Sunak: "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."
To apply for support, businesses should contact the local authority in which their business is based.
The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000
