{"id":19428,"date":"2020-08-10T10:42:51","date_gmt":"2020-08-10T09:42:51","guid":{"rendered":"https:\/\/ukactive.com\/news\/ukactive-hospitality-and-retail-trade-bodies-call-for-introduction-of-property-bounceback-grant\/"},"modified":"2020-08-10T10:42:51","modified_gmt":"2020-08-10T09:42:51","slug":"ukactive-hospitality-and-retail-trade-bodies-call-for-introduction-of-property-bounceback-grant","status":"publish","type":"post","link":"https:\/\/ukactive.com\/cy\/news\/ukactive-hospitality-and-retail-trade-bodies-call-for-introduction-of-property-bounceback-grant\/","title":{"rendered":"ukactive, hospitality and retail trade bodies call for introduction of Property Bounceback Grant"},"content":{"rendered":"

ukactive,\u00a0along with hospitality\u00a0and retail\u00a0trade bodies, has today (10 August) called for government support to end the COVID-19 rent crisis, which is seen as\u00a0one of the\u00a0biggest threats\u00a0to the fitness and hospitality industry, and to the future of the high street.<\/p>\n

ukactive, in conjunction with the British Property Federation (BPF), British Retail Consortium (BRC), Revo and UKHospitality, has issued a joint call<\/a> for the Government to save jobs and businesses by introducing a Property Bounceback Grant.<\/p>\n

Analysis commissioned by the five trade bodies found that if the Government paid 50% of unpaid rents across the retail, hospitality and leisure sectors for six months, at a cost of \u00a31.75bn, it would herald a return on investment to the Treasury \u2013 in terms of tax revenue from economic activity\u00a0\u2013 of nearly \u00a37bn (about 400%) and 375,000 jobs would be saved.<\/p>\n

If rent support were extended to cover businesses that had already reached rent payment agreements, the cost would rise to \u00a34.7bn, with a return of more than \u00a311bn to the UK economy, preventing the loss of over 630,000 jobs.<\/p>\n

The trade bodies are proposing the introduction of a Property Bounceback Grant which would have the following features:<\/p>\n