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LONDON — The U.Okay. authorities introduced a £4.6 billion money injection for companies impacted by coronavirus restrictions after Prime Minister Boris Johnson announced a national lockdown in England on Monday night.
Chancellor Rishi Sunak mentioned the money would “assist companies to get via the months forward — and crucially it should assist maintain jobs, so employees will be able to return when they’re able to reopen.”
The one-off package deal contains grants for retail, hospitality and leisure corporations value as much as £9,000 per property and a £594 million fund that corporations in want can apply for.
The furlough scheme, below which the federal government pays a proportion of employees’ wages the place employers can not foot the invoice, was already in place till the top of March.
Johnson imposed a seven-week lockdown in England on Monday evening as the brand new pressure of coronavirus ran rampant throughout the U.Okay., placing the well being service vulnerable to being overwhelmed. The different three U.Okay. nations additionally introduced enhanced measures.
Calls to announce extra assist for companies had been rising earlier than Sunak made the announcement. “I’m afraid more comprehensive restrictions do require a more comprehensive economic response,” Confederation of British Industry chair Tony Danker informed the BBC Today program.
Leader of the opposition Labour occasion Keir Starmer informed the identical present: “The general principle needs to be where there are health restrictions there needs to be an economic package to support that.”
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