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24.12 - 13:23
Businesses hit by Omicron to get £1bn bailout, says Rishi Sunak
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A bailout package worth about £1bn for businesses losing trade because of the Omicron surge was announced by the chancellor, Rishi Sunak, on Tuesday.
The funding will primarily help firms in the leisure and hospitality sector, and follows concerns that they have faced cancelled bookings and plummeting custom since the government implemented its Covid plan B.
According to UKHospitality, many businesses have lost up to 60% of their trade in December, which is usually their most profitable month.
Sunak said the government was intervening because “the spread of the Omicron variant means businesses in the hospitality and leisure sectors are facing huge uncertainty, at a crucial time”.
The bailout package consists of four elements:
Grants for
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