Home Business News Welsh businesses given an extra £140m to help with Brexit and Covid

Welsh businesses given an extra £140m to help with Brexit and Covid

by LLB Politics Reporter
28th Sep 20 1:38 pm

The Welsh government has made an extra £140m available to businesses from the Economic Resilience Fund (ERF) to help deal with Brexit and coronavirus.

Funding from the third phase of the ERF will also help provide support to secure jobs and will enable businesses to develop.

Almost two thirds of the Welsh population will be placed under lockdown on Monday as more new restrictions come into effect from 6pm.

Around 2m people across Neath Port Talbot, Torfaen and Vale of Glamorgan are join eight other areas in lockdown from 6pm on Monday.

The Welsh Economy Minister Ken Skates said, “Our Economic Resilience Fund has been absolutely crucial in supporting businesses throughout Wales in dealing with the economic challenges of the coronavirus and helping protect the livelihoods of more than 100,000 people.

“The next phase of the fund, worth £140m, builds on that success, helping us to secure jobs and enabling businesses to continue to develop and grow in these challenging times.

“There is also a specific part of the fund earmarked to support businesses affected by local lockdowns.

“This additional help has been designed to complement and build on the support announced by the chancellor last week, again demonstrating the Welsh government’s proactive approach to go above and beyond in providing extra financial assistance that we know our businesses and workers need.”

Neath Port Talbot council leader Rob Jones warned that the area is seeing rising cases of infections.

Jones said, “We need the help of everyone across Neath Port Talbot to prevent the increasing spread of coronavirus and to bring the infection rates back down.”

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