Covid: Isle of Man lockdown business support extended
MANXSCENESFinancial support for Manx firms hit by Covid-19 restrictions have been expanded due to the "compound effect" of repeated lockdowns, the Treasury Minister has said.
A new Domestic Business Payment will allow some firms to claim a grant equivalent to their annual rates.
A one-off £250 payment is also available to hospitality venues that closed shortly before lockdown.
Alfred Cannan said lockdowns had increased pressure on businesses.
The additional support would help keep jobs "stable" and ensure "people are protected as much as possible”, he added.
The island entered lockdown for a third time on 3 March following a rise in infections with no identifiable source.
The payment is expected to be an average of about £3,500 per firm with an overall cost of £7.3m to the Treasury.
Existing support for workers and employers has also been extended to cover the latest lockdown, which is expected to last until at least 6 April.
An extra £1,000 will also be paid through the Business Support Scheme.
It is estimated that £21m will be paid in Covid-19 financial support during March.
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