Stephen McConnell, Business Services Partner at Baker Tilly Mooney Moore
Reacting to the announcement that all remaining Covid-19 restrictions will be removed, Stephen McConnell, Business Services Partner at leading accountancy and advisory firm Baker Tilly Mooney Moore said:
“Today’s decision to remove the remaining Covid-19 restrictions is a welcome and entirely necessary step forward. Businesses, particularly in the retail and hospitality sectors, have been operating under a number of legal requirements that, while important to manage the public health crisis posed by the Omicron variant, have ultimately stifled their ability to truly rebuild from the pandemic.”
“As the situation eases, the removal of all restrictions will allow business owners to maximise their operations at a time when profit margins are being reduced from all angles. Cost bases have reached unprecedented levels as gas and electric tariffs continue to skyrocket, government support schemes are winding up and the return of the 20% VAT rate is just around the corner. Many businesses are now also making repayments to the Bounce Back Loan Scheme and various other support measures, meaning their ability to operate free from legal restrictions is vital to help pay off debts. Almost two years into the pandemic, what we do know is that business owners here are resilient and resourceful and will no doubt emerge from this latest phase ready to continue contributing to the economy and creating jobs for people in Northern Ireland.”