Chancellor's business support announcement

  • By Gemma Kappala-R...

Today the Chancellor announced additional grants for hospitality, accommodation and leisure sector businesses in Tier 2 or ‘High’ local Covid alert level areas, changes to the Job Support Scheme that make it less expensive for employers and additional support for self-employed people.

Cllr Danny Thorpe, London Councils Executive member for Business, Europe and Good Growth, said:

“Investment in support for jobs, businesses and local economies is key to ensuring we get through the Covid-19 pandemic while safeguarding London’s long-term future.

“London boroughs are pleased that the government has recognised the collateral damage High alert level restrictions are doing to many businesses, especially those in affected sectors such as leisure and hospitality.

“It is also good news that the targeted grant scheme will be backdated so that all local economies that have been affected by stricter rules will benefit, and helpful that businesses with a rateable value of more than £51,000 can now access much-needed support, which will have a big impact in London.

“Making the Job Support Scheme more generous and extending support for self-employed people are also positive developments.

“London boroughs will be working with their local businesses to deliver grant funding and publicise additional support as quickly as possible. More than 96% of existing grants have been given to London businesses to date, around 7% more than the national average. We will also tailor discretionary grants to ensure we are helping as many businesses in need as we can.”