Written Ministerial Statement

The content of this written ministerial statement is as received at the time from the Minister. It has not been subject to the official reporting (Hansard) process.

Department for the Economy - Additional support for businesses impacted by flooding

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Published on Friday 23 February 2024.

Mr Murphy (The Minister for the Economy): I am announcing details of a support package of up to £10 million to assist businesses and local economies impacted by the severe flooding at the later part of last year.

The support package, which will be delivered by district councils, consists of an Enhanced Flood support Scheme (EFSS) and two Hardship schemes.

The EFSS, which will open for applications next week will provide up to £100,000 to flooded small and medium sized businesses to cover costs associated with the refitting of the flooded premises and the replacement of damaged equipment and stock. Further details about the scheme, including the eligibility criteria and how to apply, will be released early next week.

The two new hardship schemes will provide support to others that were affected by the flooding but not eligible for the other supports. This includes, for example, a £5,000 hardship payment for occupants of non-domestic premises that were flooded but were not covered by the £7,500 scheme and also a £2,500 hardship payment for businesses that were not flooded but were unable to access their premises and hence unable to trade. These schemes will be open to applications in early March and further details on how to apply will be available in the next couple of weeks.