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New Gov. Support For Our Wider Industry

New gov. support for our wider industry.(that’s new support not new government)

This afternoon, the Chancellor announced new economic support measures to support businesses impacted by the rapid spread of the Omicron variant. You can read the full announcement here and please see a summary of the measures below.

As you’ll see, these support measures do not create any new sources of funding, they simply add additional funding to current schemes or restructure them.

Culture Recovery Fund

  • £30 million in additional funding to the Emergency Resource Support Fund will be made available through the Culture Recovery Fund through to March 2022.
  • To be eligible for the funding, cultural organisations must demonstrate, via cashflow forecast, they are at risk of ceasing to trade viably within 12 weeks of the point of application. More information about the Culture Recovery Fund is available here.

One-off grants for hospitality and leisure sectors

  • Businesses in the hospitality and leisure sectors in England will be eligible to receive one-off grants of up to £6,000 per premises. This amounts to a total of £683 million of funding for the targeted grants.  
    • Around 200,000 businesses will be eligible for the business grants which will be administered by local authorities and will be available in the coming weeks.

Additional Restrictions Grant (ARG)

  • More than £100 million in discretionary funding will be made available for local authorities in England to support other businesses through the ARG fund.
  • The ARG provides local councils with grant funding to support businesses that are severely impacted by restrictions, and that may or may not be in the business rates system. You can find out if your business is eligible for ARG funding here.

Statutory Sick Pay

  • The Government will also cover the cost of Statutory Sick Pay for Covid-related absences for small and medium-sized employers (fewer than 250 people) across the UK.
    • The Government will cover pay for up to 2 weeks per employee. Firms will be eligible for the scheme from today and they will be able to make claims retrospectively from mid-January.
  • You can see if you are eligible for the Coronavirus Statutory Sick Pay Rebate Scheme here.

Funding for devolved administrations

  • The devolved administrations will receive around £150 million of funding, comprising around £80 million for the Scottish Government, £50 million for the Welsh Government and £25 million for the Northern Ireland Executive.

With Thanks to LIVE and the political lobby support for this information, hot off the press.

Association of Festival Organisers (AFO): 21st Dec 2021 16:51:00

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