Welsh flood-hit households promised at least £500 to help repair damage
The Welsh government have set up a £10m fund to help in the aftermath of severe flooding
26th February 2020 15:49
by Brean Horne from interactive investor
The Welsh government have set up a £10m fund to help in the aftermath of severe flooding
The Welsh Government had announced that it will give at least £500 to every household affected by flooding during Storm Ciara and Storm Dennis.
A further £500 will be made available to those who do not have a home insurance policy in place.
Homes eligible for the payments will receive funds within 24 hours.
Rhondda Cynon Taf is one of the worst affected areas in Wales.
The council there is also providing financial support to residents and small and medium sized businesses affected by the storms.
Grants of £500 are available per household and £1,000 per business.
You can apply for funding online at gov.wales or by contacting your local authority.
First Minister Mark Drakeford says: “When I met people from flood-hit communities over the last week, I saw for myself the stress, strain and loss people are experiencing.
“We want to do all we can to help them at this extremely stressful time.
"I also saw the extreme pressure people are under if they didn’t have insurance cover or if their insurance policies do not cover flooding.
“To help those people, we are providing additional money to those not covered by house insurance."
This article was originally published in our sister magazine Moneywise, which ceased publication in August 2020.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.