Chamber warns: This will cost countless jobs

The business organisation’s chief executive, former finance minister Simon Hamilton, was scathing about the “countless job losses” he said are likely to result from the new restrictions.

Other business groups, such as Retail NI, Hospitality Ulster and the Federation of Small Businesses have called for increased government support.

Mr Hamilton, a former DUP MLA who served as both health minister and finance minister during his time in the Assembly before stepping down from frontline politics and quitting the party last year, said the new rules will prove catastrophic.

“No one underestimates the challenge facing the Executive in suppressing the spread of Covid-19, but their decision to introduce what is tantamount to another lockdown for businesses across a range of sectors will, as we have warned on numerous occasions, have a cataclysmic effect on the local economy and result in countless job losses,” he said.

“If this outcome represents a compromise, then I would shudder to think what some ministers wanted to introduce.”

He continued: “We at Belfast Chamber fully appreciate that the pandemic has taken a turn for the worse and that action which balances lives and livelihoods is needed but, put quite simply,without extensive financial support and no guarantee of an extension or a repetition, the Executive have today introduced not a circuit breaker but an economy breaker.”

The Federation of Small Businesses (FSB) also issued a call for support.

Head of external affairs at FSB NI, Roger Pollen, said: “A significant support package should rapidly be deployed, in a way which recognises the broad range of businesses that have been impacted by these restrictions, including those indirectly affected through the supply chain. Many businesses have already used up reserves and taken out loans during the initial lockdown, so cash has been badly depleted.

“To prevent otherwise viable businesses failing, support needs to be developed and distributed rapidly.”