Throughout the coronavirus pandemic, the Government has provided a huge and unprecedented package of support to protect both lives and livelihoods through this incredibly challenging period.
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1,165 businesses in Redditch have been provided with a total of £13.9 million in grants during the pandemic through the Small Business Grants Fund, the Retail, Hospitality & Leisure Grants Fund, and the Discretionary Grants Fund.
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We were making progress and huge strides in unlocking Redditch’s full potential – but we must now redouble our efforts in the wake of coronavirus.
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Yesterday (July 8th), Chancellor Rishi Sunak revealed the Government’s £30 billion Plan for Jobs – designed to support people to find the jobs that are out there, creating new jobs through investing in our infrastructure and housing, and protecting jobs by revitalising the hard-hit sectors upon which many jobs depend.
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It’s been confirmed Redditch will receive £1 million from this fund to spend on projects across the town this year. This is an advance on the up to £25 million Town Deal Redditch was awarded in 2019.
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“I hope people get out to support the tourism and hospitality businesses which are reopening and which are so vital to our local economy and jobs.”
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13,100 jobs have been protected through the Coronavirus Job Retention Scheme, with Government grants covering 80% of people’s wages, up to £2,500 a month, HMRC figures show.
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The new Bounce Back Loans scheme, which will provide loans of up to £50,000, will help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.
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608 business properties in Redditch have already received grants as part of the Government’s Small Business Grants Scheme. In total, £7,145,000 has made its way to small businesses in the area.
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Rishi Sunak is taking further action to support firms affected by coronavirus by bolstering business interruption loans and announcing a new scheme for larger companies.
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Rachel has welcomed the robust intention of the new Government to concentrate on re-balancing upcoming economic success throughout the country.
Read MoreThousands of full-time workers in Redditch are set to receive an annual pay rise of up to £930 following a 6.2% increase in the National Living Wage.
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