AQW 11660/22-27

Mr Matthew O'Toole
Social Democratic and Labour Party
South Belfast

Tabled Date: 09/05/2024
Answered On Date: 15/05/2024
Priority Written: Yes

Question:
To ask the Minister for the Economy whether his Department is working on an intervention to financially support hospitality businesses.

Answer:

I understand the importance of the hospitality sector for both our tourism industry and the high street economy, with approximately 57,000 jobs in the accommodation and food service sector.

Addressing the challenges of rising costs cuts across several areas of government, including the Department for Communities and local councils. My Department is taking steps to support businesses through delivery of the Executive’s ‘Path to Net Zero Energy’ Strategy, a key objective being to ensure that all consumers have access to essential and affordable energy. Tourism NI provides a suite of advisory supports to help tourism and hospitality businesses reduce costs, improve productivity and be more sustainable, including Leaner and Greener, and Innovate Tourism.

The level of VAT is also a specific issue, and I know that the Department of Finance has repeatedly raised with the Treasury the negative impacts on hospitality of high levels of VAT.