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Households here are on a £ 200 windfall on the new year after a Covid relief fund package from the Executive brought in a £ 95 million coupon scheme to help our main streets.
retailers will toast the early Christmas present, and while details are to be finalized, Finance Minister Conor Murphy said it was estimated at £ 200 per household.
Separately, there is more than £ 200 million in support for companies facing the crippling impact of coronavirus restrictions, although one boss warned that speedy delivery would be as crucial as the support itself.
And heads of companies whose livelihoods were disrupted by the pandemic but were unable to qualify for other support have said they are relieved after being told they would receive £ 20 million of the total £ 300 million package announced on Thursday. Monday.
Those employers had called themselves ‘NOT excluded’ after they didn’t qualify for help like the self-employed income support plan.
There is also help for the vulnerable, with disabled people with higher disability benefits and seniors with pension credit to receive a one-time heating payment of £ 200 as part of a £ 44.3 million package.
The details of the coupon scheme and whether it will be subject to rules prohibiting spending with food giants like Tesco have not been confirmed.
The Department of Economics, which will administer the scheme, said Monday night: “Delivering a High Street stimulus scheme across NI will help encourage people to shop and visit local retailers, putting much-needed revenue directly in local businesses.
“The Department of Economics is currently developing the scheme that includes the amount of the bond and how it will be delivered.
“Putting a scheme of this scale and nature into operation is incredibly complex and officials are working hard to develop its parameters. It is anticipated that the scheme will ‘go live’ in the new year and will be subject to public health guidelines.”
And £ 55m has also been provided to extend the Localized Restrictions Support Scheme (LRSS) to non-essential retail, leisure and entertainment businesses due to close from Friday under the new two-week lockdown.
There is also £ 20 million to extend the 12-month holiday rate to the manufacturing sector, £ 10.6 million for 1,000 wet bars and £ 5 million to complete the tourism and hospitality plan, among other allocations. The Finance Department said that nearly £ 19 million had already been earmarked for 5,043 companies under the LRSS. Around 1,230 applications have been deemed ineligible.
In total, 12,000 applications have been received, and the department said staff is “working hard to process all applications as quickly as possible.”
Aodhan Connolly, Director of the NI Retail Consortium, said: “The £ 95 million that will be given to households to spend on Main Street is particularly welcome as it creates a virtuous cycle of spending that will support retailers in the leanest months. January and February, as well as being of great benefit to those households whose budgets are already tight. This will make a tangible difference on Main Street, livelihoods and lives. “
Angela McGowan, CBI Director Northern Ireland, said: “NI hotel companies and entrepreneurs have been asking for additional help for some time.
“The targeted support that helps both households and businesses in the lead up to Christmas will help in part to cushion the blow of what has been a very difficult year.
“Quick delivery will be as critical as the financial support itself.”
Jacquelyn Stewart, who lives in Warrenpoint, said she has had nothing to live for since her health food business, which typically delivers up to 3,000 shots of wheatgrass juice in the UK and Europe, was stopped in March.
“I am over the moon. Since March I have been living off savings, living off money set aside to pay taxes and family donations. All of us who have been excluded have been eating things that we would not normally eat – Living on beans and toast does not It is easy.
“Now knowing that money has been set aside removes some of the uncertainty. But the devil will be in the details.”
Meanwhile, the Department of Economics continues to process applications for the Covid Trade Restrictions Scheme, which was created to support companies that have had to close due to restrictions imposed since October 16 but were not covered by the scheme. from the Finance Department.
Executive announced support includes:
- £ 150 million to alleviate fees for the sectors most affected by the pandemic: retail, hospitality, tourism, leisure, childcare and airports.
- The High Street £ 95 million voucher program will give people a prepaid card to use on High Street.
- £ 20 million for company directors, a group that has been excluded from previous support.
- £ 10.6 million for wet bars.
- 5 million pounds sterling to complete the tourism and hotel plan.
- 4.1 million pounds sterling on a bed and breakfast basis.
- £ 44.3 million to allow a one-time heating payment of £ 200 to disabled people with higher rate allowances and to seniors who receive a pension credit.
- 10 million pounds sterling each to support municipalities and sport.
- £ 20.6 million for the Department of Education, including food grants for families of young people entitled to free school meals.
- £ 1.2 million of the £ 10 million set aside for airport support to provide further support to Derry City Airport.
Belfast Telegraph
