Welsh Government unveils £500m scheme to help businesses

First Minister Mark Drakeford (pictured) has revealed a new £500m fund to plug the gaps left in the coronavirus support available to businesses in Wales, reports Business Live this afternoon (Monday).

The funding is on top of a £1.4bn package of support for businesses in Wales announced last week.

The Economic Resilience Fund will support businesses, charities and social enterprises - with a focus on those who have missed out on support schemes already announced by the UK and Welsh Governments.

This follows the announcement of a business rates holiday for firms in the leisure, retail and hospitality sectors and the UK Government's Job Retention scheme, which pays up to 80% of a worker's wage if they are 'furloughed' because of coronavirus.

For the full story, see: https://www.business-live.co.uk/economic-development/welsh-government-reveals-500m-fund-18006907?utm_source=businesslive_newsletter&utm_medium=email&utm_content=Link604&utm_campaign=wales_newsletter