THE snow storms which paralysed Britain may have cost businesses already battling the credit crunch up to a billion pounds – and more blizzards could be on the way.

The 10cm of snow that coated London, Europe’s financial capital, on Monday virtually shut down air, rail and road links, forcing thousands of workers to stay at home in the worst storms in 18 years.

With Britain in recession and facing what the International Monetary Fund says will be the worst slump in the developed world, the rare cold snap risks putting many struggling businesses into the deep freeze for good.

The Federation of Small Businesses, which represents over 200 000 business people, said one in five workers did not make it to the job on Monday, costing employers up to £1.2bn (about R17.4bn).

Spokesperson Stephen Alambritis said if the bad weather continues this week, the cost could rise to £3.5bn.

Forecasters say Scotland, south Wales and parts of southern England will bear the brunt of the snow in the coming days, as the storms move past London and head north.

The bad weather also hit other European countries including France, Italy, Switzerland, Belgium and Spain.

The BBC reported that 6000 schools were shut across Britain on Tuesday, including every school in the northwestern city of Birmingham. — Sapa- AFP