AQW 3080/22-27

Mr Stewart Dickson
Alliance Party
East Antrim

Tabled Date: 08/09/2022
Answered On Date: 21/09/2022
Priority Written: No

Question:
To ask the Minister for the Economy what support he is providing to takeaway businesses in Northern Ireland, in light of reports that half of Northern Ireland’s takeaways are at threat of closure due to rising costs.

Answer:

I am acutely aware of the pressure that businesses are facing across the board, primarily as a result of soaring wholesale energy costs associated with Russia’s invasion of Ukraine. In the last year, since September 2021, the wholesale cost of natural gas has trebled (+194%), while the cost of coal (+104%) and home heating oil (+107%) has doubled. Coupled with ongoing global supply chain disruptions, these unprecedented increases in energy costs are driving inflation across the economy, including input cost pressures for small businesses.

As we are seeing across Europe and beyond, the magnitude of these global inflationary pressures means that it can only be tackled meaningfully by significant interventions at a national government level. That is why in recent weeks and months I have taken every opportunity to engage with UK Government to highlight the inflationary pressures being felt by households and businesses in Northern Ireland.

Following these engagements, I welcome the UK Government’s commitment to deliver the much needed £400 Energy Support Payment Scheme in Northern Ireland. In addition, the announcement by the Prime Minister of an Energy Price Guarantee and her continued commitment that the same level of support will be made available in Northern Ireland. This relief will give households and businesses a degree of certainty with their bills over the coming months. My Department will continue to engage with the UK Government and others to ensure these support measures reach Northern Ireland households and businesses as soon as possible.

The outlook remains challenging but I am hopeful for the future. I am investing in those areas where we can gain the best long-term outcomes, which will help us build greater economic resilience for the future. For example, I have published an energy strategy which will deliver a step change in how we move away from our reliance on overseas, imported fossil fuels. Alongside our investment in skills this will support the delivery of our ambitious 10X Economic Vision for the benefit of all our people.

In practical terms, Invest Northern Ireland’s Energy and Resource Efficiency Support for businesses provides a suite of support, including specialist advice and investment capital, to enable local businesses to become more efficient and resilient through green efficiencies.