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Households struggling in the economic downturn are to receive a tax rebate in what is thought to be one of the first such schemes by a council in England.
Essex County Council will help 30,000 of the county's vulnerable households and particularly those aged over 80.
This would be equivalent to relief of £100 off council tax bills.
The council also announced plans to create a "Bank of Essex" which would aim to help direct European funding to small businesses in the county.
The council said it wanted to support the county's residents and businesses in the economic downturn.
The measures also include a scheme which would make apprentices available to small businesses that may otherwise be unable to employ young people in the current economic conditions.
County council leader Lord Hanningfield said: "Our residents are crucial to us - supporting them is why we are here.
"It's our duty to do whatever we can to assist in countering the effects of the economic downturn."
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