AQW 11256/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 30/11/2020
Answered On Date: 14/12/2020
Priority Written: No

Question:
To ask the Minister for the Economy whether a business case has been approved for the High Street Voucher scheme.

Answer:

On 23 November 2020, the Executive announced a £300 million support package, including over £200 million for businesses and £98 million of COVID-19 funding to support the most vulnerable.

This overall package included £95 million for a High Street Stimulus Scheme, which the Department for the Economy have been asked to take forward, and it is anticipated that the scheme will be implemented in early 2021.

This is a significant policy intervention, which will inject £95 million into our local economy. The multiplier effect of this innovative financial support offering – from people spending more than the value of the card and the ripple effects from purchases – will deliver even greater economic benefits and make a significant step to kick-starting our recovery.

It is recognised that a proportionate business case will be required to fully appraise the options and undertake the necessary analysis that will inform the final policy parameters of this scheme.

Officials are currently working on the development of the business case, and it is hoped to have this finalised before the end of this year.