The 18 first-class counties and county boards, in addition to the MCC, will instantly every obtain a share of some £40m of their respective financial institution accounts on Wednesday, with an extra £20m obtainable in curiosity free loans and grants.
“It’s no exaggeration to say that this is the biggest challenge the ECB have faced in their history,” mentioned chief govt Tom Harrison in a convention name.
“We won’t know the full impact for a few months. We are aware the effects will be long-standing and they will be very significant on us. We are trying to work around the clock to understand that impact and take some short-term steps to help counties and recreational clubs to get through the immediate impact.”