UK Chancellor Rishi Sunak Announces £4.6bn Lockdown Lifeline For Firms And Workers

Budget announcement shows inflation will soar to 4 per cent UK this winter. image: No 10

UK Chancellor Rishi Sunak Announces £4.6bn Lockdown Lifeline For Firms And Workers.

Chancellor Rishi Sunak has announced £4.6bn in new grants to support retail, hospitality and leisure firms. The chancellor said firms would receive one-off grants worth up to £9,000. It comes after England, Scotland and Northern Ireland were placed in full-scale lockdowns to curb the coronavirus once again, with Wales already under nationwide stay-at-home restrictions.

“Throughout the pandemic, we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring,” said the chancellor. He added: “This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”

Vast swathes of the UK economy now face at least seven weeks of severely limited trade, with many firms forced to shut up shop altogether. Cabinet minister Michael Gove said on Tuesday, Jan.5, that the restrictions could last into March.


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Tony Winterburn

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