AQW 12389/17-22 Written question to the Minister for the Economy
To ask the Minister for the Economy when the £20 million allocated to supporting company directors not previously supported, as announced on 23 November, will be given out.
Asked by Paula Bradshaw MLA on 31 December 2020
- Answered
- Written
- After due date
- Tabled
- 31 December 2020
- Answer due by
- 18 January 2021
- Answered
- 4 February 202135 days after tabling
- Department
- Department for the Economy
- Priority question
- No
Answer
The Limited Company Directors Support Scheme (LCDSS) was agreed by the Executive on 8 January 2021 and opened to applications 6pm Thursday 21 January 2021. The LCDSS will provide financial support to company directors who have personally been adversely impacted by COVID-19. A taxable grant of £3,500 will be paid to the applicant, i.e. the director.
The scheme, including the grant amount, was agreed in the context of the £20 million budget that was pledged by the Executive on the 23 November, and an additional £20 million allocated to the scheme in January 2021.
The scheme is being delivered by Invest NI on behalf of the Department of the Economy and Invest NI are committed to assessing and verifying all applications, and processing payments, to eligible applicants as quickly as possible.