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11/11/2020
Circuit Breaker Lockdown May Have Cost NI Economy £400m
The four-week circuit breaker could have potentially cost the Northern Ireland economy some £400 million, according to the Department for the Economy.
The department said that this was an initial assessment and includes direct and indirect losses along with the costs of a potential delay to the partial recovery.
It comes on top of losses of £4-5billion already caused by the impact of Covid-19 and the original lockdown earlier this year.
Commenting on the report, Minister Diane Dodds said: "This initial analysis carried out by my officials provides important evidence of the profound impact the Covid-19 restrictions have had on our economy.
"The four-week circuit breaker had a direct impact on around 60,000 jobs with severe financial consequences in particular for people working in accommodation and food, close contact services, supply chain businesses, and the arts, entertainment and recreation sectors.
"Indicators are that females, younger workers and those on low pay may have been most adversely affected."
The department said that this was an initial assessment and includes direct and indirect losses along with the costs of a potential delay to the partial recovery.
It comes on top of losses of £4-5billion already caused by the impact of Covid-19 and the original lockdown earlier this year.
Commenting on the report, Minister Diane Dodds said: "This initial analysis carried out by my officials provides important evidence of the profound impact the Covid-19 restrictions have had on our economy.
"The four-week circuit breaker had a direct impact on around 60,000 jobs with severe financial consequences in particular for people working in accommodation and food, close contact services, supply chain businesses, and the arts, entertainment and recreation sectors.
"Indicators are that females, younger workers and those on low pay may have been most adversely affected."
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