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Chancellor Of The Exchequer Announces $1 Billion Fund For Businesses

The Chancellor of the Exchequer Rishi Sunak has set out measures to support England’s hospitality sector as it struggles with the sudden drop in bookings triggered by rising Covid-19 cases in the country.

Posted: 21st December 2021 by Finance Monthly
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Speaking on Tuesday, Sunak announced a £1 billion fund including cash grants of up to £6,000 per premises for each eligible business as well as $30 million to support England’s theatres and museums. Sunak also announced that the Government would support some firms with the cost of sick pay for Covid-related absences. 

The chancellor called the new support measures “generous” as he recognised the difficult situation many hospitality businesses continue to face in the run-up to Christmas. However, Sunak did not comment on whether further support would be offered to businesses should additional coronavirus restrictions be introduced.

As covid cases continue to soar, the Government is under mounting pressure to act to reduce the virus’ spread. On Monday, a further 91,743 covid cases were reported in the UK, marking the second highest daily total on record since the pandemic began in 2020.

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