Responding to the Summer Statement by the Chancellor of the Exchequer, Rishi Sunak, FSB NI Head of External Affairs, Roger Pollen has welcomed many of the measures brought forward, however has also said that it is vital that Northern Ireland actually sees the benefit of the investment in skills.
Commenting, Roger Pollen, said:
“Many of the measures brought forward by the Chancellor today are very welcome and correspond with the ‘jobs first’ approach which FSB has been advocating in the run up to today’s statement.
“The six months VAT cut on food, accommodation and attractions from 20 percent to five percent will give a much-needed boost to those sectors that have been hardest hit by the Covid-19 crisis, while the ‘Eat-out to Help out’ discount vouchers will help drive footfall to hospitality businesses.
“The £1,000 Job Retention Bonus for employers will also encourage businesses to bring back furloughed workers and could help avoid redundancies.
“However, many of the other measures announced today apply to either England or Great Britain only, and it is up to the Northern Ireland Executive to decide how best to utilise the funding which emanates from Barnett Consequentials to achieve the same sort of economic benefits here.
“Just as the Chancellor has invested significantly via the ‘Kickstart Scheme’, the Executive should similarly invest in skills and apprenticeships. With SMEs in Northern Ireland employing more people than all larger businesses and the entire public sector combined, small businesses will be well placed to benefit from the next generation of skilled workers, as part of a talent-led recovery.
“The onus is now on Stormont Ministers to step up to the mark to design schemes which encourages skills and training, and are able to be accessed by all businesses - large and small alike.”