The Cabinet is to be presented with proposals for a new flood relief scheme for businesses with payments in extreme cases of in excess of €70,000.
Currently, traders impacted by flooding can avail of a scheme that has a cap of €20,000 which includes a €5,000 quick payment.
The source added that some of the damage in Cork caused by Storm Babet was exceptional so in response the Government has decided to bring in a new scheme. A memo is to be presented to Cabinet tomorrow with details of this new scheme for flood-hit businesses.
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