AQW 10803/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 23/11/2020
Answered On Date: 11/12/2020
Priority Written: No

Question:
To ask the Minister for the Economy whether any bids were submitted to support the newly self-employed ahead of the financial package announced on 23 November 2020.

Answer:

I initially issued Executive colleagues with an options paper for the utilisation of underspend from both the small business support grant scheme and the retail, hospitality, tourism and leisure grant scheme on 19 June 2020. This options paper included proposals to support those for whom there were gaps in provision, including support of sole traders and newly self-employed who were unable to access support from UK Governments Self-Employed Income Support Scheme.

On 9th October I issued an additional paper to my Executive colleagues regarding further support gaps, and on 21 October 2020 I announced my intention to develop a scheme for the newly registered self-employed. The

Executive subsequently agreed to allocate £10m in funding for this scheme on 22 October 2020.

On 19 November 2020 I presented a further paper to the Executive seeking consideration of detailed proposals which would provide financial support for the newly self-employed and sole limited company directors.

The Newly Self Employed Support Scheme launched 3 December 2020 and further information on support for sole limited company directors, who have been allocated £20m in funding as part of the £213m business support package, will be provided in due course.