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.