Thu 24th Sep 2020
NI Chamber comments on Chancellor’s Winter Economic Plan
Responding to The Chancellor of the Exchequer’s Winter Economic Plan, Ian Henry, President of Northern Ireland Chamber of Commerce and Industry (NI Chamber), said:
“The measures announced by the Chancellor provide a welcomed response to the business community’s call for a new generation of support to help protect livelihoods and ease the cash pressures faced by firms as they head into a challenging and uncertain winter.
“The new Jobs Support Scheme has the potential to help many companies hold on to valued, skilled employees – however it looks like a complex system and businesses will be eager to see the detail first and then consider whether and how they will be able to use the scheme.
“The Chancellor has also listened to calls for an extension of business lending schemes and more flexible repayment terms for loans. With almost 40% of our members saying they have 3 months cash in reserve or less, this will lessen the immediate pressure and provide reassurance for many affected firms at a challenging time.”