Financial Support Announced for Hospitality & Leisure Sectors
Further financial support has been announced by Chancellor Rishi Sunak today in light of the rapid spread of Omricon and its subsequent detrimental financial impact upon businesses in certain sectors.
What is being made available?
- Grants of up to £6,000 per premises for businesses in the hospitality and leisure sector, to be distributed via Local Authorities, expected to be in the coming weeks
- £100 million discretionary funding distributed to local authorities to support other businesses
- Government funded Statutory Sick Pay for covid related absences for SMEs across the UK
- £30 million of funding to be dispersed via the Culture Recovery Fund to support cultural organisations in England, up until March 2022
- Further financial support for the devolved administrations (£80 million for Scottish government, £50 million for Welsh government and £25 million for the Northern Ireland Executive).
To read the full government announcement click here.
Once we have further information as to how and when the local authority grants become available we will of course let you know.
If you have any questions you should not hesitate to contact your usual Mitchell Charlesworth advisor.
Written 21 December 2021.