Chancellor Rishi Sunak has set out a package of measures to support public services, people and businesses through the period of disruption caused by COVID-19.
Measures announced to support businesses including the significant package of measures announced on 17 March 2020:
- grant funding of £10,000 for small firms in receipt of Small Business Rate Relief (SBRR) and Rural Rates Relief
- grant funding of £25,000 for certain businesses in the retail, hospitality and leisure sectors
- a 12-month business rates holiday for businesses in the retail, hospitality and leisure sectors
- a temporary Coronavirus Business Interruption Loan Scheme to support businesses in accessing bank lending and overdrafts
- extended access to Statutory Sick Pay (SSP), with reliefs available to SMEs
- expanded access to HMRC’s Time to Pay scheme.