As England enters its third national lockdown the government has allocated a further £4.6 billion to supporting businesses that are forced to close during this time.
Retail, leisure and hospitality businesses will receive up to £9,000 per property due to the lockdown that will see businesses remain closed until February half-term at the earliest.
Under the new grant package, closed businesses with a rateable value of £15,000 or below will be entitled to £4,000, while those with a rateable value between £15,000 and £51,000 will receive £6,000.
Businesses with a rateable value of more than £51,000 will be eligible for the maximum amount of £9,000.
Elsewhere, the government will also provide a £594 million discretionary fund to support other impacted businesses.
This comes in addition to £1.1 billion further discretionary grant funding for local authorities, Local Restriction Support Grants worth up to £3,000-a-month and extension of furlough scheme.
The government also revealed it will provide 100% business rates relief for retail, hospitality and leisure businesses, and £1.1 billion existing discretionary funding for Local Authorities, with the furlough scheme now extended to April and 100% government-backed loans extended until March.
Chancellor Rishi Sunak said: “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.