A Restart Grant scheme worth up to £5bn, as well as extensions to VAT and business rates relief, have been offered by the UK Chancellor to help the high street bounce back.

These measures, incorporated as part of the 2021 Budget, are part of a raft of measures set to help the highstreet rebound after several months of concerns for the health of the high street.

The Restart Grant offers a one-off lump sum of up to £18,000 for businesses that worked in the hospitality, accommodation, leisure, personal care and gym sectors.

This sum would help them get ready to restart, deep clean, update structural glass shopfronts, recruit staff, returning staff from furlough and other measures to help them prepare to reopen effectively.

As well as this, attractions, as well as hospitality and accommodation services will see their VAT cut down to 5 per cent until the end of September 2021, as well as a 12.5 per cent rate for the six months following this.

The criteria for business rates relief will be relaxed in the retail, leisure and hospitality sectors, helping to safe money for sectors that have struggled over the past 12 months.

As well as this, an increase in the legal limit for contactless payments from £45 to £100 is aimed to make shopping easier and incentivise a return to the high street.

Along with this, businesses can also take advantage of a Recovery Loan Scheme that can provide loans between £25,001 and £10m to enable businesses to recover smoothly.