Financial Aid for Shuttered Businesses Amid Covid-19 Restrictions

  • Businesses in England can claim up to £1,500 per property every three weeks during local lockdowns
  • Government announces new funding plan to support businesses impacted by Covid-19
  • Largest businesses receive £1,500, smaller ones get £1,000 for each three week lockdown period
  • Payments triggered by national decisions in ‘high incidence’ areas
  • Additional payments for each new three week lockdown period
  • Business Secretary Alok Sharma: No business should be punished for doing the right thing

The UK government has announced a new funding plan to support businesses affected by local lockdowns due to the ongoing Covid-19 pandemic. Businesses in England that are required to close due to local restrictions can now claim up to £1,500 per property every three weeks. Larger businesses will receive £1,500 while smaller ones get £1,000. Payments are triggered by national decisions in ‘high incidence’ areas and occur for each new three-week lockdown period. The Federation of Small Businesses’ chairman Mike Cherry praised the intervention as a much-needed financial lifeline for affected firms.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the new funding plan announced by the Government to support businesses impacted by Covid-19 lockdowns in England. It includes quotes from relevant sources and explains the eligibility criteria for the grants. The information is not sensationalized or misleading, and there are no signs of personal perspective being presented as a universally accepted truth.
Noise Level: 3
Noise Justification: The article provides relevant and useful information about the new funding plan announced by the Government to support businesses impacted by Covid-19 lockdowns in England. It also includes quotes from key figures and a representative of small businesses. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: Businesses in England
Financial Rating Justification: The article discusses financial support provided by the Government to businesses impacted by local lockdowns due to Covid-19, which directly affects their finances and operations. It also mentions the Plan for Jobs that aims to help businesses get back on their feet and protect jobs, making it relevant to financial topics.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but the article discusses the financial support provided to businesses affected by local lockdowns due to Covid-19.

Reported publicly: www.retailsector.co.uk