UK Government To Provide Hospitality And Gyms Grants Of Up To £18,000
The UK government has announced a new ‘Restart Grant’ to help businesses reopen in April.
During his 2021 Budget today, March 3, Chancellor Rishi Sunak said hospitality businesses and gyms will receive grants of up to £18,000 as the UK eases out of lockdown restrictions.
He said the grant will ‘help businesses reopen and get going again’.
As per a roadmap set out by Prime Minister Boris Johnson last week, restaurants and gyms are set to reopen on April 12.
Non-essential shops, which are set to open first, will receive grants of up to £6,000 per premis. Hospitality and leisure businesses, including personal care and gyms, will open later. ‘As they’ll be more impacted by restrictions, we will give them grants of up to £18,000’ Sunak said.
‘The grant is part of £5 billion of new grants to help businesses, on top of the £20 billion we have already provided,’ Sunak said.
Sunak also confirmed that the reduced 5% VAT rate for tourism and hospitality will be extended for six months until the end of September, and the business rates holiday will be extended until the end of June.
The announcement will be welcomed by the UKHospitality trade body, which told the BBC earlier this week that without such measures ‘the hospitality sector’s recovery will be stunted’.
The furlough scheme, which pays 80% of employee wages, will also be extended until the end of September, Sunak said. He said the government will ask employers to contribute 10% from July onwards and 20% in August and September.
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