To ask the Minister for the Economy to detail any immediate financial or policy interventions she is considering, to support independent hospitality businesses facing increased insolvency risk.

Invest NI provides a broad range of support to small and medium sized businesses across the North primarily in the form of advice, guidance, innovation grants and access to finance. Tourism NI is also developing a business resilience programme to deliver financial expertise for tourism businesses to provide a business healthcheck. Participating businesses will then receive a dedicated action plan.

My Department and partner organisations continue to provide a broad range of supports to businesses to help them be more competitive through energy efficiency, innovation, skills, and exploring new markets.

My Department will continue to monitor business sentiment as part of our wider assessment of economic conditions, and I remain committed to ongoing engagement with key stakeholders as we work to support a sustainable and thriving hospitality sector in line with my four economic priorities.

I recently met with Hospitality Ulster and the NI Food to Go Association to discuss their proposals for a VAT reduction pilot scheme to address the VAT differential for hospitality between the North and the South. Following these discussions, I wrote jointly with the Minister of Finance to the Chief Secretary to the Treasury seeking an early meeting to address the issue of VAT disparity.

I will continue to work closely with the Minister of Finance to advocate for a fairer tax framework that supports local businesses and enables them to compete effectively on an allisland basis.