British Government Allocates 4.6 Billion Pounds Sterling to Support Business
OREANDA-NEWS. The United Kingdom government has allocated additional 4.6 billion pounds sterling (6.2 billion US dollars) to support businesses that will be affected by the quarantine, the Treasury reported. A nationwide quarantine in Great Britain was introduced on January 5 due to the spread of a new strain of coronavirus. Since the beginning of the pandemic, more than 2.7 million people have fallen ill in the country, over 75.5 thousand have died.
Enterprises from the retail, catering, entertainment and hospitality sectors affected by the quarantine will receive a one-time payment of up to 9 thousand pounds. According to government’s estimates, about 600 thousand companies will be able to receive such support. In addition, the authorities will provide 594 million pounds to municipalities to support enterprises from other industries, also affected by restrictions.
The UK Treasury will direct funds to help companies in Scotland, Wales and Northern Ireland. Scotland will receive 375 million, Wales 227 million, Northern Ireland 127 million pounds sterling.