THE Welsh Government is doubling the third phase of its Economic Resilience Fund, making nearly £300m available to support businesses that continue to be affected by Covid-19.

In September, the Economy Minister Ken Skates announced £140m would be made available under the third phase of the Welsh Government’s Economic Resilience Fund.

However as a result of the “fire-break”, which will begin on Friday 23 October and continue until Monday 9 November and will require a range of businesses to temporarily close their doors or reduce their operations, the latest round of the fund will be more than doubled to ensure further help for businesses across Wales.

The Economic Resilience Fund, which complements support schemes available from the UK Government, is part of the Welsh Government’s £1.7bn plus support package for businesses to help deal with the economic impacts of Coronvirus.

Economy Minister Ken Skates said: “We are having to make important decisions to help slow the spread of coronavirus and protect both the stability of our NHS and the health of our people. However we absolutely recognise these decisions do have a knock on effect on our economy and our businesses during what has already been an incredibly difficult year for them.