- Analytics
- News and Tools
- Market News
- UK's Sunak: Treasury to provide £1B in support for business most affected by Omicron
UK's Sunak: Treasury to provide £1B in support for business most affected by Omicron
UK Chancellor of the Exchequer Rishi Sunak announced on Tuesday that the UK Treasury would make £1B in support available to the businesses most impacted by Omicron, mainly in the hospitality and leisure sectors. Businesses will be eligible for one-off grants of up to £6,000 per premise, while the government will cover the costs of mandatory sick pay for Covid-19 related absences from small and medium-sized employers across the UK.
When asked about further support in the event of a post-Christmas lockdown, Sunak said the Treasury will respond to the situation proportionately and keep things under constant review. We can't rule anything out, he said.
Market Reaction
GBP has not seen any notable reaction to the latest announcement from Rishi Sunak, though it does raise the possibility of a more proactive fiscal stance from the UK government in the event of a stricter lockdown which would remove some downside risk to the economy.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
