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Global Economy

£1bn of COVID-19 support to businesses in the UK

Fifa says “each game was a global televisual event in its own right.”

Making evaluations about the impact of the epidemic on businesses, British Finance Minister Rishi Sunak stated that they will provide additional financial support for businesses.

Sunak reported that an additional financing package with a total volume of 1 billion pounds was offered to support businesses that have been in a difficult situation due to the Omicron variant of COVID-19 recently.

Stating that businesses may go through a difficult period in the future due to the epidemic, Sunak stated that the applicant businesses will be given a one-time grant of up to 6 thousand pounds.

Explaining that it is planned to cover the epidemic-related sick leave of employees in small and medium-sized companies from this financing package, Sunak stated that approximately 200 thousand enterprises in the country are expected to request financial aid in the coming period.

“We recognize that the spread of the Omicron variant means great uncertainty for businesses in the hospitality and entertainment industries,” Sunak said. used the phrase.

Businesses in the country are expected to have reduced their earnings under normal conditions by between 40 and 60 percent by the end of this month, according to British government estimates.

£1bn of COVID-19 support to businesses in the UK

“People are justifiably more careful”

British Prime Minister Boris Johnson said: “With the increase in Omicron cases, people are rightfully taking more care in their lives. This is affecting our accommodation, entertainment and cultural sectors (negatively) during this time of year, which is usually the busiest time of the year.” made its assessment.

According to the statement made by the British Office of National Statistics (ONS), the country’s growth rate, which was previously announced as 1.3 percent for the third quarter of this year, was revised to 1.1 percent.

In July-September 2021, companies’ investments in the country fell by 2.5 percent. These investments remained approximately 12 percent below the pre-COVID-19 outbreak level.

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