“Survey Shows Businesses’ Need for Stormont Help from Inflation” – Cllr. Emmet Doyle
An Aontú Councillor in Derry, Emmet Doyle, has called on the government to take steps to mitigate the impact of inflation on the business sector following the findings of a survey on the matter.
Speaking today, Cllr. Doyle said: “Surveys conducted by Ulster bank are starting to show the impact that inflation is having on the economy here. Businesses are starting to see a serious drop in demand, particularly in retail. It’s heartbreaking to hear from shop owners and restaurant owners who are terrified about the future of their companies. The hospitality sector was particularly hurt by the lockdown restrictions and are now confronted by widespread staff shortages”.
Cllr Doyle continued: “Business across the north is starting to contract. The Bank of England is already starting to predict a recession by 2023. There are small and family businesses throughout our communities that are at risk of closing. I’ve heard horrible stories from business owners who are at risk of losing what they’ve invested everything in for years. Stormont needs to understand the severity of the situation and get back to work before businesses start to close!” Concluded Cllr. Doyle.