Govt set to roll out £22 billion high street support package

The Treasury on Wednesday (1 April) said cash grants of up to £25,000 were starting to be paid into businesses’ bank accounts, and confirmed the business rates exemption for SMEs had now come into force.

All businesses in the retail, hospitality and leisure sectors, including agents, with a rateable value of less than £51,000 are eligible for the business rates “holiday”.

Some £5.3 billion has meanwhile been pledged to the UK’s devolved administrations to “support people, business and public services”. This includes £2.7 billion for Scotland, £1.6 billion for Wales and £900 million for Northern Ireland.