Cash boost for firms hit by capital tram works

Councillors yesterday approved an increase in funding to help Edinburgh traders overcome the loss of business resulting from the capital’s troubled trams project.

Members of the council’s policy and strategy committee unanimously passed a proposal to increase funds to help market the city centre from £210,000 per year to £445,000.

It was also confirmed that businesses affected by the tram works would be entitled to apply for revaluation of their properties to gain temporary reduction in rateable value.

The £445,000 per year – earmarked for 2011-12 and 2012-13 – will go into the “Open for Business Programme, which will support businesses in the city centre, Leith Walk and the West End. The programme will promote brand identities of the affected areas, audit empty shop units and launch media promotions.

Andrew Burns, leader of the Labour group on the City of Edinburgh Council, said: “Many retailers in the city centre have been hit by the trams project and support for them is critical, so I welcome any additional funding.

“Small businesses are absolutely critical in Edinburgh’s economy. They have been hardest hit by the trams, at the very time the global recession hit.

“If the project had not been set back by the chaos and lack of supervision at the heart of the council, trams would be nearing completion rather than barely starting.”