AQW 16485/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 16/03/2021
Answered On Date: 25/03/2021
Priority Written: No

Question:
To ask the Minister of Finance whether applicants for the £50,000 COVID-19 support scheme for large businesses announced on the 15 March 2021 will have to demonstrate financial hardship suffered as a result of COVID-19.

Answer:

The scheme, which has been approved by all Executive Ministers, is targeted at those business occupying premises with a Net Annual Value over £51,000 which were not able to access grant funding during the first lockdown and were eligible for the 12 months rates holiday in 2020/2021. These business are in sectors which the Ulster University EPC analysis in May 2020 indicated were most severely impacted by the pandemic and were in greatest need of support. The sectoral analysis has been confirmed as being correct in a further update for the Department of Finance in February 2021.

It is not intended that individual businesses will be required to demonstrate financial hardship suffered as a result of Covid-19 in order to qualify for this scheme.