UK’s Sunak to Provide 5 Billion Pounds of Grants to Pandemic Hit Businesses in Budget

Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, on Nov. 25, 2020. Henry Nicholls/Reuters

LONDON—British finance minister Rishi Sunak will announce 5 billion pounds ($7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the government said on Saturday.

Shops, bars, clubs, hotels, restaurants, gyms and hair salons would be among nearly 700,000 companies eligible for new direct cash grants of up 18,000 pounds.