McGlone urges Economy Minister to broaden business support

Chair of the Stormont All-Party Group on Construction Patsy McGlone MLA has written to Economy Minister Diane Dodds urging her to broaden business grant support to those with an NAV above £15,000.

The Mid Ulster MLA said that many firms eligible for industrial derating with NAV over the current limit for the small business support grant are struggling and need urgent assistance.

Patsy McGlone MLA said, “The grant assistance made available to firms so far is very welcome and has provided a much needed cushion for those facing immediate financial hardship as a result of the Covid-19 crisis.

“But I have received correspondence from a number of firms in the construction and manufacturing sectors that are struggling in the current environment and have no access to immediate support. Many of those companies eligible for industrial derating, for example, have NAVs above the £15,001 cap and are excluded from small business grant assistance.

“I have written to the Economy Minister urging her to broaden the support available to businesses. This is a critical time, we have to do everything in our power to protect jobs and ensure we have an economy to salvage.”