Feb 28, 2021

Budget 2021: £5bn fund for High Street to recover from Covid

A new £5bn cash grant scheme for High Street businesses aims to "Get the tills ringing again", Rishi Sunak says. The funding takes the total spent on direct grants to businesses during the pandemic to £25bn, the Treasury said. Mr Sunak told the Mail on Sunday it had been an "Incredibly difficult year for our High Streets" and that the new money would provide businesses "The support they need to get them through, get them back on their feet and get the tills ringing once again". Mike Cherry, national chair of the Federation of Small Businesses, welcomed the "Much-needed lifeline" provided to businesses by the grants, but called for the chancellor to set out more funding "For those that have been excluded from income support throughout this crisis". UK Hospitality chief executive Kate Nicholls said businesses were "Crying out for the cash" and urged the grants to be paid as soon as possible.

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