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UK: High street benefits from £22 billion grants and business rates package

Christian Fernsby |
Thousands of high street firms are beginning to receive £25,000 cash grants and will be exempt from business rates from today in the UK as they begin to benefit from a £22 billion package.

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Topics: GRANT    UK   

As part of a raft of unprecedented measures announced by the Chancellor to support those affected by the coronavirus outbreak, eligible properties, including those in the retail, hospitality and leisure sectors, will not pay business rates for the next 12 months.

The measure comes into force today and will save firms in England £11 billion.

The smallest businesses in these sectors are also beginning to receive one off grants of either £10,000 or £25,000, with money landing in their bank accounts.

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