Spring Budget: £5bn additional support for retail and hospitality announced

David Pardoe, Deputy Chair, Retail BID Birmingham and Head of Retail, Marketing and Tenant Engagement, The Mailbox, welcomed the additional support being offered to high streets through the new £5 billion ‘Restart’ grant package tailored for retail and hospitality.

Chancellor Rishi Sunak announced the new measures during today’s Spring Budget speech to Parliament.

Retailers which are due to reopen from April will be eligible for grants of up to £6,000 per premises. Pubs and restaurants which will be closed until June will be able to claim grants of up to £18,000.

“This additional aid being offered to high street retailers and hospitality venues is absolutely the right thing to do and will give a support lifeline in Birmingham and other cities,” said Mr Pardoe.

“The challenge now is for the funding to be administered promptly so businesses are able to remain viable and begin their preparations to reopen safely and once again welcome customers when lockdown measures allow.

“Retail BID will support our members whenever we can through safety patrols, business crime intervention, marketing, promotion and support services.

“The BID will be in regular communication with Birmingham City Council with regard to payment of the new grants as soon as more details are received from Government.”