COMPANIES badly affected by the Glasgow School of Art Mackintosh building and Victoria’s Nightclub fires in the city will pay no business rates for the first three months on next year.
Glasgow City Council will be allowed to use a further £1.85 million from the Scottish Government’s fire recovery fund to provide business rates relief and support recovery efforts.
No business in the immediate GSA fire cordon area, or eligible companies in Sauchiehall Street, will have to pay business rates for the period of January to March.
Some 200 businesses in the eligible area have already received more than £3m from the £5m, which was announced by Finance Secretary Derek Mackay in July.
In addition, a £150,000 grant will be given to the Centre for Contemporary Arts to assist with its recovery plan.
The Scottish Government has already offered £20,000 of financial support to businesses directly affected by the fires and £10,000 to others in the area impacted by a reduction in shoppers.
It has also expanded its contribution to hardship rates relief and in partnership with the council has created an emergency fund to support displaced households.
Mackay said: “This further business rates 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."
Glasgow Chamber of Commerce chief executive Stuart Patrick said: “Sauchiehall Street has had a trying year as everyone knows and the Cabinet Secretary’s announced further business support for its recovery and future development is very welcome.
“So let’s now get on and deliver for one of the city’s most important retail and leisure thoroughfares.”
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