Live as Rishi Sunak updates funding rules for areas in restrictions

Live as Rishi Sunak updates funding rules for areas in restrictions

Chancellor of the Exchequer Rishi Sunak is announcing new rule changes that will cover the hospitality sector – especially pubs and restaurants in England.

Mr Sunak is announcing new support and funding packages for areas that have been placed into Tier Two and Tier Three restrictions.

There have also been calls for enhanced funding for Wales, which has launched a two-week circuit breaker lockdown.

Rishi Sunak will unveil a new plan to help firms, particularly pubs and restaurants, who have seen their trade drop as a result of the social restrictions in the “high” Covid-19 category.

Currently businesses in Tier 2 areas such as London and Birmingham do not benefit from the same Government aid as those in Tier 3, including business grants and higher wage subsidies, because they can remain open.

Mr Sunak is making a statement to the Commons on Thursday morning.

The Chancellor’s spokesperson said “The Chancellor is due to update the House of Commons on the economic situation, in particular, and so far as it relates to the new restrictions.

“And, what we have always said is that our package of support is always flexible and always up for review to make sure that it is dealing with the situation as it evolves.”

In Tier 3, social mixing is banned both indoors and in private gardens, while pubs and bars must close unless they can operate as a restaurant.

For businesses in this band that are unable to legally operate due to Covid-19 restrictions, the government will pay employees 66% of their wage, with the employer still contributing to pensions and National Insurance.

Meanwhile, companies in Tier 2 can only claim on a scheme where employers have to pay around 55% of staff wages with a smaller subsidy from Government, while still being subject to bans on household mixing indoors.

Updates will appear here as they happen

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