{"id":147628,"date":"2021-01-05T17:50:00","date_gmt":"2021-01-05T14:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/businesses-thrown-6-2-billion-lifeline-to-cope-with-latest-u-k-lockdown\/"},"modified":"2021-01-05T17:50:00","modified_gmt":"2021-01-05T14:50:00","slug":"businesses-thrown-6-2-billion-lifeline-to-cope-with-latest-u-k-lockdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/businesses-thrown-6-2-billion-lifeline-to-cope-with-latest-u-k-lockdown\/","title":{"rendered":"#\n  Businesses thrown $6.2 billion lifeline to cope with latest U.K. lockdown"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a419a208e91e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a419a208e91e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/businesses-thrown-6-2-billion-lifeline-to-cope-with-latest-u-k-lockdown\/#UK_government_has_committed_280_billion_toward_support_measures_during_the_COVID-19_pandemic\" >U.K. government has committed \u00a3280 billion\u00a0toward\u00a0support measures\u00a0during the COVID-19 pandemic<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/businesses-thrown-6-2-billion-lifeline-to-cope-with-latest-u-k-lockdown\/#Lina_Saigol\" >Lina Saigol<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Businesses thrown $6.2 billion lifeline to cope with latest U.K. lockdown<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"UK_government_has_committed_280_billion_toward_support_measures_during_the_COVID-19_pandemic\"><\/span>\n  U.K. government has committed \u00a3280 billion\u00a0toward\u00a0support measures\u00a0during the COVID-19 pandemic<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000118130\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       U.K. Chancellor of the Exchequer Rishi Sunak on Tuesday unveiled a fresh \u00a34.6 billion ($6.2 billion) support package for struggling U.K. businesses, just hours after the government imposed a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/shell-third-national-lockdown-confirmed-as-new-variant-spreads-across-england-20210104?mod=home-page&amp;adobe_mc=MCMID%3D36987526649504958391910718218550711901%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609812009&amp;adobe_mc=MCMID%3D49551745858635905102873382007835527130%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609840267&amp;fnr=true&amp;adobe_mc=MCMID%3D11491397177131890963661314161702684340%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609844934\" class=\"icon none\">third lockdown<\/a> in the country to curb a rapid rise in coronavirus cases.<\/p>\n<p> Businesses in the retail, hospitality and leisure sectors will be able to claim up to \u00a39,000 ($12,235) in one-off grants to help them cope with the latest restrictions, which were announced late on Monday night by Prime Minister Boris Johnson. <\/p>\n<div class=\"paywall\">\n       Under the new lockdown, all hospitality venues and nonessential shops must remain closed until at least mid February, heaping more pressure on those already-struggling sectors.<\/p>\n<p>The new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/news\/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs\" class=\"icon none\">lockdown grants<\/a> are expected to benefit more than 600,000 business properties across the U.K., and will be worth around \u00a34 billion, the treasury said. A further \u00a3594 million will be made available to local authorities and devolved administrations to support businesses not eligible for the grants.<\/p>\n<p><strong>Read: <\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/shell-third-national-lockdown-confirmed-as-new-variant-spreads-across-england-20210104?mod=home-page&amp;adobe_mc=MCMID%3D36987526649504958391910718218550711901%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609812009&amp;adobe_mc=MCMID%3D49551745858635905102873382007835527130%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609840267&amp;fnr=true&amp;adobe_mc=MCMID%3D11491397177131890963661314161702684340%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1609844934\" class=\"icon none\">Third national lockdown confirmed as new variant spreads across England <\/a> <\/p>\n<p>\u201cThe new strain of the virus presents us all with a huge challenge \u2014 and whilst the vaccine is being rolled out, we have needed to tighten restrictions further,\u201d Sunak said in a statement. \u201cThis [support package] will help businesses to get through the months ahead \u2014 and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen,\u201d he added.<\/p>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetTweet\n          inline\n    scope-web|mobileapps\n  article__inset\n        article__inset--type-InsetTweet\n          article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n<style>\n            iframe.twitter-tweet {\n                width: 100% !important;\n            }\n        <\/style>\n<blockquote class=\"twitter-tweet\" lang=\"en\"><p>\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RishiSunak\/status\/1346386597051248640\"><\/a>\n            <\/p><\/blockquote>\n<p>        <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/p><\/div>\n<p>       The new one-off grants come in addition to billions of existing business support, including grants worth up to \u00a33,000 for closed businesses, and up to \u00a32,100 a month for impacted businesses once they reopen.  <\/p>\n<p>Sunak said in November that government support measures to that date to help businesses cope with the COVID-19 pandemic would cost about <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/speeches\/spending-review-2020-speech\" class=\"icon none\">\u00a3280 billion <\/a>this financial year. <\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> of the cash injection lifted shares in pub groups Marston\u2019s<br \/>\n        MARS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203821737\/delayed\" class=\"positive\">+5.54%<\/bg-quote><br \/>\n       and Mitchells &amp; Butlers<br \/>\n        MAB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209008939\/delayed\" class=\"positive\">+4.20%<\/bg-quote><span>,<\/span><br \/>\n       which rose 2.39% and 2.43% respectively in London trading on Tuesday morning. Restaurant Group<br \/>\n        RTN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207518837\/delayed\" class=\"positive\">+4.45%<\/bg-quote><span>,<\/span><br \/>\n       which operates 350 restaurants and pubs across the U.K. including the Frankie &amp; Benny\u2019s and Wagamama chains, saw its stock rise 3.69%.<\/p>\n<p><strong>Read:<\/strong> European markets slide as new lockdown measures set to take effect in the U.K. and Germany <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Business leaders welcomed the support package, but warned that on its own, the support wasn\u2019t enough to keep businesses afloat longer term.<\/p>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetPullQuote\n          inline\n    scope-web|mobileapps\n  article__inset\n        article__inset--type-InsetPullQuote\n          article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n         \u201cThis is only a sticking plaster for im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te ills\u201d<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p>\n<p>        <small><br \/>\n          <span class=\"inset-author article__inset__pullquote__author\">\u2014 Kate Nicholls, CEO, UKHospitality<\/span><br \/>\n        <\/small><\/p><\/div>\n<\/p><\/div>\n<p>       \u201cWhile this announcement is most welcome, make no mistake that this is only a sticking plaster for immediate ills \u2014 it is not enough to even cover the costs of many businesses and certainly will not underpin longer-term business viability for our sector,\u201d said Kate Nicholls, chief executive of trade body UKHospitality.<\/p>\n<p> \u201cTo address the inevitable and existential challenges that hospitality faces, we need confirmation of extensions to the business rates holiday and of the 5% VAT [value-added tax] rate,\u201d she added.<\/p>\n<p>The U.K.\u2019s hospitality sector suffered lost sales of more than <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/info.cga.co.uk\/future-shock-issue-eight\" class=\"icon none\">\u00a353 billion<\/a> ($72 billion) in 2020 due to the impact of coronavirus restrictions on trade, according to a data report by CGA and UKHospitality published in December.<\/p>\n<p>Adam Marshall, director of the British Chambers of Commerce, said on Twitter<br \/>\n        TWTR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203180645\/composite\" class=\"negative\">-0.82%<\/bg-quote><br \/>\n       that ministers need to set out a clear support package for the whole of 2021 \u2014 not just until spring \u2014 \u201cto help businesses of all shapes and sizes survive this difficult and uncertain year.\u201d<\/p>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetTweet\n          inline\n    scope-web|mobileapps\n  article__inset\n        article__inset--type-InsetTweet\n          article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n<style>\n            iframe.twitter-tweet {\n                width: 100% !important;\n            }\n        <\/style>\n<blockquote class=\"twitter-tweet\" lang=\"en\"><p>\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BCCAdam\/status\/1346394673141714945\"><\/a>\n            <\/p><\/blockquote>\n<p>        <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/p><\/div>\n<p>       Roger Barker, director of policy and corporate governance at the Institute of Directors, said the new cash injection would \u201cgo some way to reassuring the worst affected businesses,\u201d but warned that the chancellor \u201cmust <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.iod.com\/news-campaigns\/news\/articles\/IoD-responds-as-Treasury-announces-further-coronavirus-grant-support-for-businesses\" class=\"icon none\">remain wary<\/a> of a spring cliff-edge in business support as the furlough program and other support measures unwind.\u201d<\/p>\n<p><strong>Read:<\/strong> Europe hopes next COVID stimulus will be the last <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Lina Saigol\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Lina_Saigol\"><\/span>Lina Saigol<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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