No new business support money for Wales - despite UK Government's £4.6bn announcement

There is no new money for Wales as part of the UK Government’s £4.6 billion pound business support package that was announced earlier today, the Welsh Government has confirmed.

The UK Chancellor Rishi Sunak announced the financial support after England entered lockdown yesterday.

It was claimed that Wales would get £227 million – but that figure had already been promised to the Welsh Government.

As a result, there will be no additional business support schemes for Welsh businesses other than the ones already in place.

Caerphilly Observer asked the Welsh Government of its plans on the back of Mr Sunak’s announcement, only to be told there is no extra money for Wales.

The Welsh Government has called for “transparency” from the UK Government to stop confusion.

In a statement issued to Caerphilly Observer, a Welsh Government spokesperson said: “The UK Treasury has confirmed that today’s announcement does not include new money for Wales. This funding is already within our existing Covid funding guarantee.

“Greater transparency is urgently needed to prevent the confusion these UK announcements cause for people and businesses across Wales.

“The Welsh Government has provided funding to enable businesses in Wales to access the most generous support package anywhere in the UK. Before Christmas, we announced a further £450m for hospitality and retail businesses affected by the latest restrictions. Funds are reaching businesses as quickly as possible and more will receive support over the coming days and weeks.

“We will continue to do all we can to support Welsh businesses through these incredibly difficult times.”

The UK Treasury has been contacted for a response.

What support is available in Wales at the moment?

Grant A – £3,000 cash grant payment for hospitality businesses and non-essential retail businesses with Small Business Rate Relief (SBRR) qualifying rateable property with rateable value £12,000 or less.
Grant B – £5,000 cash grant payment for hospitality businesses and non-essential retail businesses occupying hereditaments with a rateable value between £12,001 and £51,000.
Grant C – A £5,000 cash grant payment for hospitality businesses occupying hereditaments with a rateable value between £51,001 and £150,000.
A discretionary grant of £2,000 is also available to assist hospitality businesses that may not be eligible for the above.

A Covid-19 Economic Resilience Fund Sector Specific Grant is also being opened to applications the week beginning January 11. More information about this can be found on the Business Wales website.

For full details on what business support is available, and how to apply, visit Caerphilly County Borough Council’s website.

Details on how business owners can apply for furlough scheme, which covers 80% of an employee’s pay, can be found on the UK Government’s website.

The Coronavirus Job Retention Scheme, to give its official name, has been extended until April 30, 2021.

Caerphilly Media