Chancellor Rishi Sunak has set out a £4.6 billion plan to help businesses that are being forced to close through the third lockdown.
It includes one-off top up grants of up to £9,000 for retail, hospitality and leisure businesses.
It comes after Boris Johnson ordered the nation to stay at home and closed schools in a bid to bring down spiralling rates of Covid-19.
The Prime Minister said the restrictions would last until at least mid-February, though today cabinet minister Micheal Gove said they could be here to stay until the end of March.
The Chancellor has already extended the furlough scheme until the end of April.
Like in the previous two lockdowns, non-essential businesses such as bars, pubs, restaurants, gyms and hairdressers must remain closed.
The amount shut down businesses can receive will depend on the value of the company.
The grants include:
- £4k for businesses with a rateable value of £15k or under
- £6k for businesses with a rateable value between £15k and £51k
- £9k for businesses with a rateable value of over £51k
Mr Sunak also confirmed he would be extending the government-guaranteed Covid-19 business loan schemes until the end of March.
More to follow