[title]
As the Omicron variant continues to wreak havoc on the nation’s Christmas plans, Rishi Sunak has today (December 21) announced a package of funding for businesses affected by the latest surge in Covid cases across the country.
‘The spread of the Omicron variant means businesses in the hospitality and leisure sectors are facing huge uncertainty at a crucial time,’ said the chancellor of the exchequer as he announced £1 billion in extra bailout funds.
As Time Out reported last week, London’s venues in particular have been hit with mass cancellations and unexpected closures during the busiest trading period of the year, losing thousands of pounds in bookings at the end of an incredibly difficult year.
UKHospitality reported a 40 percent plummet in sales over the weekend amid fears of another lockdown on the horizon, also estimating that as many 10 percent of pubs and 14 percent of restaurants were very likely to fail without further support from the government. News of extra funding for the hospitality and leisure sector therefore comes as a huge relief to the many businesses who have struggled over the last two years.
The bailout package will consist of:
- Grants worth up to £6,000 per premise for hospitality and leisure businesses in England, administered through local authorities in the coming weeks, with £683 million set aside by the Treasury for these payments.
- Additional grants for businesses in England, worth £102 million, again administered through local authorities and intended for businesses most in need.
- The resumption of the statutory sick pay rebate scheme to reimburse employers in the UK with fewer than 250 workers for the cost of paying statutory sick pay for up to two weeks of Covid-related absences.
- An additional £30 million for arts organisations administered through the Culture Recovery Fund.
- £150 million of funding for the Scottish government, £50 million for the Welsh government and £25 million for the Northern Ireland executive to offset England-only spending.
While no businesses have been required by law to close under Plan B restrictions, the government has not ruled out imposing further restrictions after Christmas, which could lead to calls for a further bailout for hospitality.
Buy merch from your favourite London bars, cafés, bakeries and restaurants.
Pergola on the Wharf is supporting London’s hospitality with free Christmas dinners.