HIGH Street businesses across Warrington are starting to receive up to £25,000 cash grants and are now exempt from business rates as they start to benefit from a £22 billion business support package from the Government.
As part of a raft of unprecedented measures announced by the Chancellor to support those affected by the coronavirus outbreak, eligible properties, including those in the retail, hospitality and leisure sectors, will not pay business rates for the next 12 months. The measure comes into force today (April 1) and will save firms in England £11 billion. The smallest businesses who are business rate exempt are also beginning to receive one off grants of £10,000 with money landing in their bank accounts.
Welcoming the news, Andy Carter, the MP for Warrington South said: “We have some truly fantastic independent shops, bars and restaurants here in Warrington. These businesses are the lifeblood of our communities, so this package announced by the Chancellor is most welcome to help support them in these times. The Borough Council are administering the scheme and have launched a portal for firms to provide their bank details so payments can be made as quickly as possible via warrington.gov.uk.”
“I want to make sure that the Government support businesses large and small so that in turn they can support their employees through these difficult times. Warrington South also has many self employed contractors and I was very pleased to see the measures announced on Friday but am pressing now for steps to ensure everyone is supported through these unprecedented times”.
Chancellor Rishi Sunak commented: “High street businesses are at the core of what keeps our economy thriving. That is why we are taking the unprecedented step to provide businesses with the vital cash they need to ensure their survival during this difficult time, with 300 businesses having already received money in their accounts.”
An early payment of £3.4 billion was made to local authorities last week (Friday 27th March 2020) to ensure grants would get to businesses as soon as possible. Warrington Borough Council paid grants £2.8million to 160 businesses already this week. Every local authority in England has now received the full amount of grant funding they need to support their local businesses. The business rates holiday, which also applies to England’s nurseries, forms part of the government’s economic response to Covid-19.
Mike Cherry, National Chairman, The Federation of Small Businesses said: “Many small businesses across England in the retail, hospitality and leisure sectors alongside nurseries, estate and letting agents and bingo halls, will be very pleased that the one year business rates holiday has started. This intervention combined with the quick delivery of grants for those small businesses eligible for the expanded Retail Discount and the 700,000 small businesses in receipt of small business rates relief and rural rate relief, could be the difference between surviving this crisis or folding.”
