Budget Highlights

Chancellor Rishi Sunak has outlined his plans to help businesses recover from the COVID-19 pandemic.

Here are the headlines for retail and hospitality:

  • Non-essential retailers can claim a restart grant of up to £6,000 per premises
  • Hospitality, leisure, personal care and gyms can claim grants of up to £18,000
  • The business rates holiday will continue through to the end of June
  • And for the rest of the year these rates will still be discounted by two-thirds, up to a value of £2m for closed businesses
  • VAT will stay at the reduced rate of 5% until 30 September then 12.5% until April 2022

Steve Hughes, chief executive of the Plymouth City Centre Company, said: “We would have preferred to see more support for longer and had hoped the business rates holiday would continue for the full year. But, overall, there is support for our high streets that will help us to recover and businesses can now plan for the year ahead.”

With COVID rates falling, the Plymouth City Centre Company is now working with partners to plan for re-opening and the return of events and other activities to once again attract visitors back to our city centre and boost trade.