Black Country and Staffordshire firms handed more than £200 million to cope during pandemic
Struggling businesses in the Black Country and Staffordshire have received more than £200 million through schemes to help them survive the Covid-19 crisis, figures reveal.
But with just days left for local firms to claim untouched funds, the Local Government Association says councils should be allowed to keep leftover cash to revive local economies.
In March, Chancellor Rishi Sunak announced grants of between £10,000 and £25,000 for small and medium-sized businesses.
Councils across the Black Country had paid £192.2m to business properties by August 9 - around 80 per cent of the money available.
But this means that £48.6m remains untouched. According to the LGA, the Government has told councils it will shut the schemes on August 28 and any unclaimed funds need to be returned.
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Wolverhampton Council had paid £44.5m to business properties in the area by August 9 – 83 per cent of the money available. A total of £9m has not yet been used.
Dudley Council had paid £54.8m, 82 per cent of the total, but has £11.8m left.
Sandwell Council has paid its firms £56.2m, 77 per cent of the money available. A total of £16.9m has yet to reach businesses.
Walsall Council has paid £42.7m to firms in the area, 80 per cent of the funding, but still has £10.9 spare which could get sent back.
In Staffordshire, Stafford Borough Council has paid £24.3m to businesses, 88 per cent of the money. This means £3.3 has yet to reach local firms.
Cannock Chase District Council had paid £20.1m, 88 per cent of the money available, with £3.8m left over.
Councils across England had paid out 88 per cent of the £12.3 billion in funding by August 9, which means £1.5 billion was still available.
Richard Watts, chairman of the LGA’s resources board, said: “The Government needs to commit to redistributing any unspent resources from the original schemes, including any clawed back, to councils to be spent on local efforts to help further support businesses and reboot local economies.”
