Bulletin of Industry
Chancellor of the Exchequer Rishi Sunak has confirmed that Scottish retail, hospitality and leisure companies are among those qualifying for a one-off grant of up to £ 9,000, with the project set to cost £ 4 billion across the UK.
About 600,000 retail, hospitality and leisure firms will be entitled, the government has stated, to apply for a one-off grant of up to £ 9,000.
The payments will cost £ 4.6 billion to the Treasury and are intended to help sustain retailers before taking effect on Monday with new closure measures announced.
Exchequer Chancellor Rishi Sunak unveils a £ 4.6 billion aid package to help British firms resolve the recent crisis
Chancellor Rishi Sunak has announced an additional 594 million pounds to support undertakings that are not eligible for grants for local authorities and devolved administrations.
The Scottish government would earn 375 million pounds, the Welsh government 227 million pounds and the government of Northern Ireland 127 million pounds.
Mr. Sunak said, “We all face a major challenge with the new strain of virus – and as the vaccine is rolled out, we have had to tighten the restrictions further.”
We have acted swiftly to protect lives and livelihoods during the pandemic, and today we are announcing a further infusion of funding to help businesses and employment through spring.
“This will help businesses weather the coming months – and most importantly, it will help preserve jobs so workers are ready to return when they can reopen.”
The fees are dependent on the size of each shop, bar, cafe or hotel and are normally related to the corporate tax that each company pays. Up to 4,000 pounds and medium-sized ones up to 6,000 pounds can be demanded by the smallest firms.
However, amid demands from retail and hospitality representatives for such a move, the chancellor refrained from extending the tax cut, which expires in April.
A VAT reduction and changes to sick leave or support for working parents are other notable absences called for by corporate groups and unions.
Michael Gove means that the U.K. Additional limits on international travel are considered by governments
Foreign travel coronavirus: the UK government finds additional constraints
The British government is working on a structured approach to international travel, Michael Gove has said.
The Cabinet Secretary said that travel was being reviewed by the government to ensure that ports and airports were as secure as possible.
MBM Commercial welcomes the appointment of Tim Edward, a conflict resolution expert, to Scotland.
MBM Commercial joins Tim Edward, who was previously a partner at the law firm Dentons and headed the commercial dispute resolution practice in Scotland.
The law firm MBM, which has offices in Edinburgh and London, has named him as a partner. MBM said Mr. Edward will work closely with the head of the conflict resolution department, Cat MacLean.
Now you can have the bulletin and main business news sent twice a day directly to your email address, and Business Week on Sundays for the weekly roundup: