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Financial assistance to businesses needs to be sped up, says Muir

Financial assistance to businesses needs to be sped up, Alliance Finance spokesperson Andrew Muir MLA has said.

Mr Muir was speaking following the announcement of £40 million additional funding to support businesses impacted by the coronavirus pandemic. The North Down MLA said the money should not be “caught up in delays and elongated application processes”.

“The allocation of £40 million for further support for businesses will not match all of the requirements for assistance but must be utilised without delay,” he said.

“Various different sectors have missed out on support from the current grant schemes, including small businesses who pay little or no business rates, those availing of industrial de-rating, charitable organisations, local media, and much more.

“It is already too late for some businesses. Those left need urgent action and the funding rolled out immediately. I realise difficult decisions have to be made but they have to be prompt, and not caught up in delays or elongated application processes. The Departments of Economy and Finance cannot let perfect be the enemy of the good.”