Shops and businesses affected by flooding are to be given 100% business rate relief, the government has announced.
Speaking at Prime Minister’s Questions, David Cameron said businesses affected by the floods would recieve the relief for three months.
It will be administered by local authorities, which will be reimbursed by central government. Businesses affected by flooding will also be allowed to defer payment of VAT, PAYE and corporation tax for three months to give them time to recover.
“We will be introducing a grant for all affected homeowners and businesses to build in better flood protection as they repair their properties. That will be up to £5,000 per house and per business,” Cameron added.
The Association of Convenience Stores (ACS) welcomed the news but chief executive James Lowman also called for long term strategies to be put in place. “We must also ensure that businesses have affordable flood insurance in the future,” he said.
ACS is currently campaigning for provisions in the Water Bill to extend affordable insurance protections to local shops and other businesses.