HomeBusinessAlmost 90% of £1.6bn Further Restrictions Grant cash but to be paid

Almost 90% of £1.6bn Further Restrictions Grant cash but to be paid

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 Padlocked £50 Notes, Additional Restrictions Grant Concept

Locked up: 87% of emergency Covid-19 grants for retail, leisure and hospitality have but to be paid out

Almost 90% of an additional £1.6bn in emergency Further Restrictions Grant funds promised again in October have but to be paid out.

1000’s of enterprise throughout England face additional job losses or chapter because of native councils being sluggish to get Further Restrictions Grant cash out of the door, says occasions trade physique Events Industry Alliance.

The Authorities announced preliminary £1bn price of Further Restrictions Grant (ARG) funds to assist companies pressured to shut due to Covid-19 restrictions 4 months in the past. An extra £594m price of money was added to the ARG funds pot in January.

>See additionally: Local authorities blame government for slow release of Covid-19 grants

Companies in retail, hospitality and leisure, together with occasions, are eligible for one-off grants as much as £3,000 every.

Nonetheless, solely £1.4bn had been paid out up to now by native authorities in England, says the EIA.

Corporations appear to be going through a postcode lottery, with some councils but to make any funds, whereas a handful have distributed a major proportion of the funds.

General, as of February 9, native authorities issued on common 13 per cent of the ARG grant monies obtained.

However some native authorities have carried out a lot worse, particularly Royal Borough of Windsor and Maidenhead (4 per cent), West Oxfordshire District Council (4 per cent) and Herefordshire Council (5 per cent).

And Ealing Council had but to make one single ARG fee, regardless of receiving £9.9m in funding.

>See additionally: £9000 lockdown grant for businesses in retail, hospitality and leisure

ESSA primarily based its research on 400 Freedom of Data (FOI) requests to native authorities throughout England.

Andrew Harrison, director, Occasion Provider and Companies Affiliation (ESSA), a part of the EIA, mentioned: “We’re making an pressing name on the UK Authorities and native MPs throughout England to supply clear steerage to native authorities on issuing the Further Restrictions Grant, so that funds are made to eligible corporations as quickly as potential.

“Companies within the occasions and exhibitions sector have been pressured to shut because of COVID-19 restrictions and subsequently require acceptable monetary assist if they don’t seem to be permitted to function. It’s now as much as native authorities to make sure correct financial assist is delivered to the sector.”

Additional studying

150 UK small business grants to apply for right now – UPDATED

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88E70B70D1Aa46A497A524Eca9E5C16A?S=96&D=Mm&R=G Almost 90% Of £1.6Bn Further Restrictions Grant Cash But To Be Paid
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