Northern Ireland Chamber of Commerce and Industry has called on the NI Executive to expand its support for businesses.
Following announcement of widespread lockdowns throughout the UK, Chancellor Rishi Sunak has announced a further £4.6bn financial support plan to help UK businesses survive the pandemic. A series of measures were announced for companies in England, and a further £127m of support is to be given to Northern Ireland to enact its own support.
Northern Ireland Chamber of Commerce and Industry (NI Chamber) has wlecomed the additional support, but is calling on the Northern Ireland Executive to now expand its support to cover a much broader range of businesses. Support has so far been heavily concentrated on the retail, hospitality, and leisure sectors.
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Chief Executive Ann McGregor commented: "Whilst this immediate cash flow support for business is welcome, there is however a fear that it will not be enough to save all firms, especially those across hospitality, leisure and retail. Business needs to see a clear support package for the whole of 2021, not just another incremental intervention. The UK government must provide long term plans which allow businesses of all shapes and sizes to plan, and ultimately survive."
"We now look forward to hearing more from the NI Executive on how Northern Ireland’s £127m of additional funding will be allocated. Support must be sufficient to cover not just those on the front line of retail, hospitality and leisure, but also firms in supply chains and wider business communities who are also feeling the devastating impact of these restrictions."
Source: Written based on press release
