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Home Economy

COVID’s recovery fund will help the Scottish economy

TechX Editor by TechX Editor
September 16, 2022
in Economy
Reading Time: 2 mins read
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COVID's recovery fund will help the Scottish economy

The Scottish Government has allocated £1.36 million to Midlothian Council to support local economic recovery and the impact of the cost-of-living crisis on low-income households.

Scotland will receive £80 million

The money comes from the £80 million Local Authority COVID Economic Recovery Fund, which is distributed to councils across Scotland.

Assistance for social enterprises

£398,781 will be spent on business support projects to help the local economy.

This includes £80,000 for the Social Enterprise Start and Grow fund, which will aid in the development of community-based social enterprises.

A £15,000 fund will also be available for local business associations, which will provide grants to assist businesses in banding together, collaborating, and delivering local projects.

Increasing tourism

Midlothian Tourism Forum will receive a £10,000 grant to cover the costs of a part-time employee and the development of a website.

This will assist them in advancing marketing campaigns and increasing collaboration in the tourism sector.

A £268,781 Green Transition Fund will also be available for businesses that have signed up to the Midlothian Carbon Neutral Pledge and have a green project that requires financial assistance.

Assisting businesses in growing and prospering

Midlothian Council Leader, Councilor Kelly Parry, welcomed the funding. “This recovery fund is being used to help those low-income households who have felt the greatest impact of the pandemic and are now being hit by the cost-of-living crisis,” said Councilor Parry.

“However, we also want to support people find employment and training opportunities, and help local businesses recover, adapt and grow to help build a stronger, greener local economy.”

Local residents receive food and heating assistance

As part of the Live Well Locally project, the council has already approved spending £961,219 from the Recovery Fund to assist low-income households. The funds will be used to help local residents obtain food and heat their homes, as well as to support poverty prevention efforts.

For those in greatest need

Local food bank provision will receive £100,000 to ensure that those in need can feed their families, while £400,000 will be used to expand the council’s ‘trusted partners’ – a network of local organizations that offer practical help and support to those in need.

To read our blog on “Intl. community is Impel to provide huge help to flood hit Pakistan,” click here

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