AQW 8779/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 14/10/2020
Answered On Date: 21/10/2020
Priority Written: No

Question:
To ask the Minister of Finance whether a grant support scheme to assist businesses affected by COVID-19 public health restrictions based on turnover reduction, as has been announced in the Republic of Ireland, will be considered by his Department.

Answer:

Following my announcement of a business support scheme on 15 October, the Localised Restrictions Support Scheme opened on 19 October across all council areas for businesses required to close or severely limit their operations by the Health Regulations. Eligible businesses using commercial premises, are able to apply for financial support based in most cases on the total Net Annual Value (NAV) of the property from which the business operates. This means that I will get financial support out on the ground quickly, based on a generous scale of pre-determined weekly payments. Businesses do not need to complete an application process based on turnover and a reduction assessment.

Further details on this scheme and eligibility requirements are available at https://www.nibusinessinfo.co.uk/LocalisedRestrictionsSupport I recognise that this Scheme will not benefit all business impacted and so I have asked my Executive colleagues to urgently bring forward other proposals which aim to assist the particular sectors for which they have responsibility for.