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Business rates relief for local businesses affected by the fires to compliment current support.
Around £1.85 million of the Scottish Government’s Fire Recovery Fund is to be used by Glasgow City Council to provide business rates relief and support business recovery. Every business in the immediate fire cordon area and eligible businesses in the wider Sauchiehall Street area will receive 100% business rates relief for the period January to March.
A total of 200 businesses in the eligible area have already received more than £3 million from the £5 million fund, which was announced by Economy Secretary Derek Mackay in July following the fires at the Glasgow School of Art Mackintosh building and Victoria’s Nightclub.
In addition, a £150,000 grant will be provided to the Centre for Contemporary Arts to assist it with its recovery plan.
As well as this latest release of funding, the Scottish Government has already offered £20,000 of financial support to businesses directly affected by the fires and £10,000 to other businesses in the area who have been impacted by a fall in footfall. It has also expanded its contribution to hardship rates relief and, in partnership with the Council, created an emergency fund to support displaced households.
Mr Mackay said:
“Having already provided a great deal of assistance so far, the Scottish Government is now making the remaining balance of its Fire Recovery Fund – some £1.85 million – available to Glasgow City for further business rates relief. This relief will provide much-needed breathing space while businesses resume trade and allow them to focus on the commercial opportunities of the festive period in the knowledge that they will not face any additional business rates liabilities related to the period between January to March.
“The devastating fires at the Glasgow School of Art and near Victoria’s Nightclub have had a significant and lasting impact on businesses, residents and the Sauchiehall Street economy alike. The recovery fund has given financial relief for hundreds of eligible businesses and, while the immediate disruption has passed, it is clear the effects will continue to be felt for some time.
“The Council has been an invaluable partner and we will continue to work together closely to ensure the needs of the businesses most impacted are met.”
Councillor Susan Aitken, Leader of Glasgow City Council, added: “The Sauchiehall Street fires had a huge impact on the city, most especially on those who live and work in the vicinity.
“In response to these tragic and traumatising events, and in partnership with the Scottish Government, we ensured local businesses received the support needed at a crucial time.
“Businesses are the life blood of Sauchiehall Street and stability continues to be their overriding priority. There has been a real acceleration in the physical improvements in the area and this announcement will complement and make a significant contribution to our aims and ambitions for a 21st century Sauchiehall Street.”