Treasury announces £4 billion in business support

Scottish Government yet to confirm it will match Westminster grants

THE UK Treasury has announced a further £4 billion in support for businesses as Scotland and England return to a state of full lockdown.

The sum includes £375 million for the Scottish Government to distribute as business support grants.

In England, the Treasury will be providing one-off grants of £4000 to premises with a rateable value of up to £15,000, £6000 for a rateable value between £15,000 and £51,000 and £9000 for premises with a rateable value of more than £51,000. The funding will be available per property and the grants are in addition to all previously-announced business closure grants.

The Scottish Government has yet to confirm whether it will match the English support. First minister Nicola Sturgeon announced yesterday (January 4) that mainland Scotland was to be placed into full lockdown until at least the end of January.

Chancellor Rishi Sunak said the new strain of COVID-19 “presents us with a huge challenge”.

“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,” said Sunak.

“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.”