Cork Southwest Fine Gael TD Jim Daly has confirmed that Government has approved a €5 million compensation package for businesses affected by last weekends flooding. The proposal to offer financial assistance to businesses will be brought before the Dáil tomorrow for approval. This is the first time that the state has agreed to offer compensation to businesses affected by flooding. Jim Daly confirmed that the scheme will be administered by the Red Cross and will have a maximum value of €15,000 per application. The news will be particularly welcomed in the two towns of Bandon and Crossmolina Co Mayo which were worst affected by the flooding last weekend. The confirmation from cabinet this morning followed a late night meeting in Government buildings on Monday night between local Fine Gael TD Jim Daly and the Taoiseach Enda Kenny. “I welcome this development and believe it is a positive gesture for businesses from the state at their hour of need. Having stressed the dire situation for Bandon traders to the Taoiseach, I reminded the Taoiseach that we would be the first to offer help if this humanitarian crisis happened anywhere else in the world. It is only proper we look after small businesses which are the lifeline of our economy.” stated Jim Daly who also expressed his appreciation to Minister Simon Coveney who visited Bandon on Monday to view first hand the devastation caused by storm Desmond and Ministers Brendan Howlin and Simon Harris who also supported this measure.