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Birmingham Post
Birmingham Post
Business
Owen Hughes

Welsh Government announce extra £200m for lockdown hit businesses in Wales

Wales First Minister Mark Drakeford has announced an extra £200m will be released for Welsh businesses hit by lockdown.

Businesses and sector groups have been calling on the Welsh Government for an update on funding.

Wales has been in lockdown since December 20 with hospitality, leisure, tourism and non-essential retail closed since then.

Business resilience grants and sector specific grants have been awarded in a package worth £450m.

But with lockdown looking set to drag on firms are desperate to know what additional support will be in place.

Mr Drakeford said today that when the Welsh Government cabinet review the restrictions next week they will also set out details of a new package of support to help businesses affected by the pandemic.

He said there will be a further £200m made available to support businesses with their operating costs.

There are no further details yet on how the funds will be allocated. 

Welsh Government has been asked to comment further.

Business Wales said: "The Welsh Government will be making a further £200 million available to businesses affected by Covid-19 restrictions to help with their operating costs.

"Further information on this latest package will be provided on Friday, 29 January 2021 and we will update the COVID-19 Support for Businesses pages when the details have been confirmed.

"The further £200 million is in addition to the funding that’s currently available via the ERF Sector Specific Grant and ERF Restrictions Business Fund."

Mr Drakeford said today that £1.7bn has been handed out to businesses in Wales in addition to the direct support from UK Government.

Economy minister Ken Stakes said: "To get more than £1.7 billion out to our firms has meant a huge effort, not least from our local authorities.

“Our package of help, which is in addition to that available from the UK Government, continues to be the most comprehensive and generous package of support for businesses, anywhere in the United Kingdom.

“We will continue to engage closely with the business community through these difficult times and do all that we can to support them.”

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