The \u00a3300m support package for retailers and hospitality announced on November 23 will help ease the pressures but retail and hospitality will still hurt, with jobs losses expected.<\/p>\n
Retail NI, Belfast Chamber, NI Retail Consortium and Hospitality Ulster have all welcomed the support package, but warn of the short and long term economic impact overall.<\/p>\n
Retail NI Chief Executive Glyn Roberts said \u201cThis package is welcome, and we look forward to working with the Executive on refining the detail and its speedy implementation to assist businesses that are hardest hit by Covid-19.<\/p>\n
\u201cRetail NI had been lobbying Ministers for some time on a High Street voucher scheme based upon the Jersey Government initiative and we are pleased that they listened and acted on our proposals.<\/p>\n
\u201cIt is vital that this voucher scheme is targeted at independent retailers to ensure the full benefit to the overall economy and is not pocketed by multi-national supermarkets. 70p in every pound spend at independent retailer is recycled around the economy helping local suppliers, producers and farmers\u201d<\/p>\n
\u201cWe also want the targeted business rate relief to continue through to the next financial year and we hope to discuss this further with the Finance Minister\u201d<\/p>\n
\u201cThe next few months are about survival of our high streets and for many independent retailers. We need to see these measures brought forward rapidly.\u201d<\/p>\n
Belfast Chamber of Commerce CEO Simon Hamilton.\u00a0\u201cBusinesses in Belfast and right across the region have been hurting as a result of the Executive lockdown restrictions.\u00a0 Businesses have been seriously struggling to survive, and whilst assistance with wage costs through the furlough scheme and various grants have been hugely helpful, many are worried about how they will weather the storm they are facing.<\/p>\n
“We especially welcome the high street voucher scheme which is something that Belfast Chamber has advocated to help businesses in our city during the usually quiet January and February period.\u00a0 This will help stimulate spending where it is needed and when it is needed.\u00a0 We are also grateful for the help for directors who have been hitherto excluded.<\/p>\n
Rates holiday<\/strong><\/p>\n \u201cRates are a huge overhead for most businesses so the announcement that manufacturers are to enjoy a rates holiday this year and that some \u00a3150 million is being kept aside to offer rates reductions in the next financial year is also hugely welcome.<\/p>\n \u201cThis is a substantial amount of support and whilst many will still feel that it does not go far enough, Belfast Chamber appreciates what Ministers have agreed and will work with them to ensure additional help gets to where it is needed\u201d.<\/p>\n \u00a0NIRC Welcomes Package<\/strong><\/p>\n Northern Ireland Retail Consortium, director, Aodh\u00e1n Connolly said \u201cThe announcement of further support from the Executive announced by Finance Minister Conor Murphy is hugely welcome.<\/p>\n \u201cThe high street has been devastated by the global pandemic so the extension of the Localised Restrictions Support Scheme as well as money to help businesses grow their online offer. The \u00a395 million that will be given to households to spend on the high street is particularly welcome as it creates a virtuous circle of spending that will support retailers in the leaner months of January and February as well as being of huge benefit to those households whose budgets are already squeezed. This will make a tangible difference to the high street, to livelihoods and too lives.<\/p>\n No Magic Bullet<\/strong><\/p>\n \u201cThis support package will make a huge difference but it will not be a magic bullet for the high street. This has been the hardest year in living memory for the retail industry and more support will be needed in the coming months as well as more partnership working with industry, local councils, statutory agencies and the Executive. That is the only way the high street as we know it will survive.\u201d<\/p>\n Hospitality Hurts<\/strong><\/p>\n Colin Neill, Chief Executive of Hospitality Ulster reacted to the announcement with concern that job losses will multiply in hospitality.<\/p>\n \u201cPub aid is very welcome, but the overall package won\u2019t stop job losses in hospitality\u201d<\/p>\n \u201cThis financial package, whilst significant in value, does not address the unique situation faced by the hospitality sector, that even when open, is so heavily restricted it is not financially sustainable. During this second lockdown of hospitality, which will be six weeks on the 11th<\/sup>\u00a0December, businesses are paying \u00a330 per head, per week, to keep staff on furlough. Also, the current grant levels don\u2019t cover these payments, never mind the fixed costs being incurred which run into thousands of pounds for every business.\u201d<\/p>\n Spring voucher scheme<\/strong><\/p>\n \u201cThe voucher scheme will be helpful in the Spring, and whilst welcome, will do nothing to help hospitality businesses survive the next few months. With an indicative date of 11th<\/sup>\u00a0December for reopening and the potential of further lockdowns after Christmas, the level of financial support for pubs, restaurants and hotels must be increased now before it is too late.\u201d<\/p>\n \u201cEven if hospitality is reopened on the 11th<\/sup>\u00a0December, it is clear that many businesses will still not be able to open sustainably due to the Covid restrictions on closing time and table sizes. If these businesses are to survive into the Spring and beyond, flexibility must be allowed so that businesses can be open and trading, or closed and availing of the continued financial support, however meagre it may be.\u201d<\/p>\n \u201cMany have said that things could get better after Easter and it is encouraging that the Finance Minister is considering extending this rate relief further, but it is of little help for those who won\u2019t see it.\u201d<\/p>\n \u201cThere has been a lot of talk around saving Christmas, but today\u2019s package was no Christmas present for the hospitality industry.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The \u00a3300m support package for retailers and hospitality announced on November 23 will help ease the pressures but retail and hospitality will still hurt, with<\/p>\n","protected":false},"author":20,"featured_media":15040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[434],"aioseo_notices":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/neighbourhoodretailer.com\/wp-content\/uploads\/2020\/11\/shutterstock_1802774287-scaled.jpg","_links":{"self":[{"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/posts\/15038"}],"collection":[{"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/comments?post=15038"}],"version-history":[{"count":2,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/posts\/15038\/revisions"}],"predecessor-version":[{"id":15041,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/posts\/15038\/revisions\/15041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/media\/15040"}],"wp:attachment":[{"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/media?parent=15038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/categories?post=15038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neighbourhoodretailer.com\/wp-json\/wp\/v2\/tags?post=15038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}