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Editor in Chief Mohamed Wadie

UK Supports Companies by £4.6 Bln


Wed 06 Jan 2021 | 11:47 AM
Ahmad El-Assasy

The United Kingdom (UK) offered on Tuesday a support package of £4.6 billion ($6.2 billion) for companies, aimed at alleviating the impact of the expected recession due to the increase in Coronavirus infections in the country, according to RT.

Under the additional measures announced, each retail, hospitality, and leisure company will receive an exceptional grant of £9,000 to be set over the coming months. The total cost is £4 billion, in addition to grants of £600 million for other companies.

This comes after British Prime Minister Boris Johnson announced, on Monday, the imposition of general isolation. He stressed that there is a risk that the new strain of the most contagious virus will cause tremendous pressure that the health system will not bear within 21 days.

On his part, UK Finance Minister Rishi Sunak announced earlier, emergency aid to the economy amounting to £ 280 billion, including a huge mechanism to protect jobs until the end of April."

Sunak pointed out that this will help companies pass the coming months. He noted that the most important thing is that this will contribute to preserving jobs so that workers can return when companies can resume work.