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Business: Coronavirus

Question for Department for Business, Energy and Industrial Strategy

UIN 166411, tabled on 10 March 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of the covid-19 outbreak on businesses with a rateable value above £51,000.

Answered on

18 March 2021

The Government engages closely with businesses and local partners to understand the impact of Covid-19 across all sectors of the economy.

Substantial grant support has been made available throughout the pandemic including to those businesses with a rateable value of £51,000 and above.

Where those businesses are currently required by law to close, the Local Restrictions Support Grant enables local authorities to make grant payments of the equivalent of £4,500 per six-week period of closure.

Businesses with a rateable value above £51,000 that were required by law to close at the beginning of the January lockdown are also able to access one-off grants of £9,000 through the Closed Business Lockdown Payment.

My Rt. Hon. Friend Mr Chancellor of the Exchequer has announced that a further iteration of grants will be made available to enable businesses to reopen as Covid-19 restrictions are lifted. Restart Grants will offer businesses further one-off grants of up to £18,000. Further details will be made available in due course.