Dáil Éireann Debate, Thursday - 15 October 2020
42. Deputy Aodhán Ó Ríordáin asked the Tánaiste and Minister for Enterprise, Trade and Employment the current economic situation and risks of further insolvencies in view of the circumstances surrounding closure of a company (details supplied); his views on the recommendations of the Duffy Cahill report; and his plans for the implementation of the recommendations of the report. [25975/20]
View answerBudget 2021 focuses on protecting lives, livelihoods, jobs and businesses and provides for additional supports tailored to those sectors who are most in need such as:
- The new CRSS programme will provide closed or businesses with a significantly reduced turnover a payment based on their turnover up to €5,000 per week. This will make a difference and will be paid in addition to the Employment Wage Subsidy Scheme.
- The 9% VAT rate will help hotels, pubs, restaurants and other businesses in the entertainment, tourism and hospitality sectors.
- The extension of the commercial rates holiday will help reduce the fixed cost of doing business.
- The €3.4bn Recovery Fund provides firepower to continue to protect jobs in 2021.
The Government has committed in the Programme for Government to review whether the current legal provisions surrounding collective redundancies and the liquidation of companies effectively protect the rights of workers. I have asked the Company Law Review Group to undertake an expedited review of this commitment as it relates to company law, to be completed before the end of the year.
Recommendations of the Duffy-Cahill report and also the Company Law Review Group 2017 Report on Protection of Employees & Unsecured Creditors which have not been implemented will be revisited.
Ministers of State Damien English and Robert Troy are working with officials on a range of issues currently being considered from an employment rights and company law perspective.
They will be meeting the social partners shortly to discuss the issues, which are complex and we continue to work with all stakeholders to advance matters.
