AQW 14291/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 08/02/2021
Answered On Date: 26/02/2021
Priority Written: No

Question:
To ask the Minister for the Economy whether her Department will review the eligibility criteria for the Limited Company Director’s Support Scheme requiring Directors to hold more than 25 per cent of the company’s shares.

Answer:

The Limited Company Directors Support Scheme (LCDSS), which was agreed by the Executive on 8 January 2021, opened to applications 6pm Thursday 21 January 2021. The aim of the LCDSS is to provide financial assistance to company directors who have personally been adversely impacted by COVID-19. Eligible applicants, i.e. the director, will receive a taxable grant of £3,500. The closing date for applications to the scheme is 6pm on 4 March 2021.

The scheme, including the grant amount, was agreed in the context of the £20 million budget that was pledged by the Executive on the 23 November, and an additional £20 million allocated to the scheme in January 2021. There are no plans to review any of the eligibility criteria of the scheme.