CHARTERED accountants in the North West are urging the Government to set up a means tested hardship fund for all businesses affected by the foot and mouth outbreak.

A survey of members carried out by the Institute of Chartered Accountants (ICA) found that agricultural hauliers and suppliers, hotels, guesthouses, and leisure and tourist attractions were suffering a major slump in trade.

The aim of the survey was to identify the most appropriate forms of financial assistance required to help businesses survive the current crisis and sustain viability in the longer term.

Options which attracted the greatest support among chartered accountants who advise businesses affected by the foot and mouth outbreak were:

A means-tested specific foot and mouth hardship fund.

100pc rebate of business rates.

Government contribution to loan/overdraft payments for a specific period.

One-off subsidy payments of 10pc of turnover.

Robert Wharton of the ICA's Farming Group in the North West said: "A 10 per cent subsidy of turnover would provide short term help with their financial difficulties.

"Business rates are a significant part of their overheads, and while traders can apply for reductions if turnover is affected and they have no savings to draw on, a full rebate would make a big difference".

Mr Wharton said that while there were schemes in place to help farmers, other businesses were suffering from a lack of support and representation.

"Within four working days, a client who supplies fertiliser has lost contracts for six hundred tons because the farmers aren't buying."