Reacting to the announcement by the Finance Minister of a £230m 12 months rates holiday for airports, retail, hospitality, leisure, and tourism businesses, Londonderry Chamber President Dawn McLaughlin said:
“This is excellent news which will help some of our most badly hit businesses. These sectors – hospitality, tourism, leisure, retail, our airports – have been among the worst affected by the pandemic and its lockdowns and restrictions. This is a common sense step from the Executive which will help relieve the burden on thousands of businesses as they look to rebuild and recover from Covid-19 over the next year.
“The Executive’s recent pathway out of restrictions is a cautious first step in the reopening of our economy and society but substantial government support will still be necessary as businesses get back on their feet. Support measures like the rates holiday are crucial in freeing up cash within these businesses to meet their ongoing costs but more support is needed to ensure that many of these companies are still here when the economy fully reopens. We look forward to engaging with the Executive to help form a sustainable and permanent way out of lockdown and to offer solutions which will help our struggling businesses.”