Stephen Donnelly
Question:144. Deputy Stephen S. Donnelly asked the Tánaiste and Minister for Business, Enterprise and Innovation if she will report on the development of a Brexit working capital guarantee scheme. [39871/17]
View answerWednesday, 20 September 2017
Questions (144)
Written answers
The Government is conscious of the need to consider the types of supports that Irish businesses may require to address challenges arising as a result of the Brexit Referendum, which is likely to represent a structural shift in the UK trading relations.
My Department has been working with the Department of Finance, EI, SBCI and Department of Agriculture to develop potential supports to respond to the needs of businesses impacted by Brexit.
In particular, work is progressing on the development of a proposed Brexit-related Working Capital Guarantee Scheme and also on scoping out the need for a longer term Business Development Loan Scheme which would assist firms in investing for a post-Brexit environment.
The Working Capital scheme would benefit those SMEs that are particularly affected by issues related to Brexit. Such SMEs may need extra liquidity to cope with working capital challenges brought about by Brexit. The scheme would be offered by the SBCI through on-lenders.
Development of these proposed responses is subject to resources being agreed as part of the annual budgetary process.