Chancellor Rishi Sunak today announced a new £1Bn fund for hospitality, including cash grants for premises
Cases of the new Covid variant ‘Omicron’ are increasing at an eye-watering rate, and thanks in part to typically vague messaging from Boris, hospitality trade is dramatically down compared to what it should be at this time of year. Businesses have been crying out for support, and this afternoon chancellor Rishi Sunak has announced a new grant scheme for the sector worth £1Bn.
The scheme will include cash grants of up to £6000 per eligible premises, along with a promise to assist firms with the cost of sick pay for Covid-related absences. Sunak is quoted by the BBC as saying “the new support recognised the situation many hospitality and leisure businesses faced in the run-up to Christmas. However, he wouldn’t be drawn on whether further help would come should further restrictions be announced, as ministers come under pressure to tackle the rapid rise of the Omicron variant.”
As yet we have no details about how businesses will apply for the new grants, but we will bring you news on this as it is released.