The Welsh Government announced yesterday that £30m will be made available for struggling hospitality, leisure and tourism business impacted by the pandemic.
A further £150m in grants could also be offered through the Non-Domestic Rates (NDR) scheme if lockdown restrictions are extended following the next review on March 12, the Government confirmed.
The Economic Resilience Fund will see £30m of support become available to support small, medium and large businesses in the hospitality, leisure and tourism sector as well as related supply chain businesses.
Should restrictions be extended at the 12 March review, businesses in these sectors that pay non-domestic rates will receive an additional payment of up to £5k, regardless of the number of employees they have, as part of the £150m that will be made available.
Minister for the Economy, Transport and North Wales, Ken Skates, said: “This last year has been incredibly difficult for everyone and we are aware of the significant challenges facing our fantastic hospitality, tourism and leisure sector.
“The focus of this latest £30m round of funding is to target further support at the small, medium and large businesses in these sectors with the specific aim of protecting as many jobs as possible.”
UKH Cymru executive director David Chapman said: “This package supports key venues across our communities that employ hundreds of thousands of people and that have been forced to stay shut because of the pandemic.
“It reflects UKHospitality Cymru’s campaign and proposals for jobs-based support and represents further recognition of the high costs of staying shut and also the huge contribution to the economy that our industry makes each and every day in Wales in normal times- and, of course, the value we will quickly add once more once we are allowed to reopen.”