AQO 1036/17-22 Oral question to the Minister for the Economy
To ask the Minister for the Economy how she will ensure that future COVID-19 financial support schemes do not exclude sole traders and others that have not been able to access support previously.
Asked by Stewart Dickson MLA on 22 October 2020
- Answered
- Oral
- After due date
- Tabled
- 22 October 2020
- Answer due by
- 9 November 2020
- Answered
- 10 November 202019 days after tabling
- Department
- Department for the Economy
- Priority question
- No
Answer
In recent months, the Northern Ireland Executive and UK Government have introduced an unprecedented range of support measures to businesses and individuals working across all sectors.
My own Department has provided over £340 million of support to approximately 32,000 businesses through Business Support Schemes for large, small and microbusinesses throughout Northern Ireland.
On 22nd October, I announced the Covid Restrictions Business Support Scheme. This latest financial support option has been designed to support those businesses, including self-employed sole traders, who will be directly impacted by the four week period of restrictions deemed necessary by the Executive.
Other schemes are also being developed and, in addition to the financial supports recently announced by the Chancellor of the Exchequer, aim to exclude no-one in our society.
I understand the frustration shared by some in our business community, such as sole traders, who may not have been able to avail of as much support as others previously.
Unfortunately, it has not been possible to provide funding for every scenario that has presented itself during this pandemic.
In considering further interventions, it will be for the Executive collectively, to determine how limited funding will be allocated to best support economic recovery moving forward.