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Source: Social Democratic and Labour Party of Northern Ireland

SDLP Leader Colum Eastwood MP has written to the heads of each of the major banks in Northern Ireland urging them to extend mortgage holidays for businesses impacted by additional Covid-19 restrictions.

The Foyle MP said that minimising overhead costs is critical to the survival of local businesses and has also written to the Finance Minister encouraging him to take action.

Colum Eastwood MP said:

“The additional restrictions announced by the Executive have had a significant impact on businesses being asked to close or restrict their activities. It’s important, therefore, that a robust package is offered to help business owners and staff comply with the new rules.

“But financial support won’t be enough on its own. That’s why I’ve been in touch with the heads of each of the major banks in Northern Ireland asking them to guarantee mortgage holidays for businesses experiencing a reduction in trade as a result of these restrictions. That doesn’t just mean those asked to close, but suppliers and ancillary services who will see a fall in custom as well.

“If businesses are to survive the next few weeks and months, we have to help them to reduce overheads and support their staff. I have also written to the Finance Minister asking him to make an intervention to support these people.

“I know these restrictions are tough. But without immediate intervention, we’re looking at a very difficult winter for our health service and our economy. Political leaders have a responsibility to do all we can to address that now. The SDLP will continue to do all we can, in the Executive and at Westminster to make the case for them.”

MIL OSI United Kingdom