Dáil Éireann Debate, Tuesday - 22 February 2022
10. Deputy Michael Lowry asked the Minister for Finance his plans to introduce measures to support businesses impacted by increased energy, fuel and insurance costs (details supplied); and if he will make a statement on the matter. [9668/22]
View answerQuestion No. 10 was to be grouped with Question No. 8 but if the Deputy wants to make a brief contribution on the matter, maybe the Minister would give a brief reply.
I was not aware the question had been grouped. The last two years have been a very challenging time for businesses due to the Covid-19 restrictions. While larger grocery, pharmacy, hardware and retail outlets maintained or increased trade during the pandemic, smaller retailers faced periods of closure and significantly reduced footfall. On top of that, the costs of energy, fuel and insurance have all risen significantly over the last 18 months. These increases are greatly impacting on the ability of many to continue to trade. They urgently require assistance from the Government.
I thank the Deputy for raising this issue. Many of these businesses still have a number of months of Covid support available to them in the form of the employment wage subsidy scheme. I acknowledge that the Deputy has made a number of constructive suggestions over the last two years to change the operation of the employment wage subsidy scheme and the Covid restrictions support scheme, which I have taken on board. Those schemes are still in place for many businesses affected by the pressures to which the Deputy refers. Do I at this point have any plans in place to bring forward a further set of business supports? The candid truth at the moment is that I do not. I accept that many businesses are facing new challenges in the rising cost of energy and in retention of staff. We are not yet out of two years of an exceptionally high level of support for our economy, which was needed, and a very high level of support to many businesses. That is going to be in place for many of them for a number of months. To be clear, that was for Covid, for a different reason. Even in the current environment of a lower Covid impact on businesses, those supports are still in place, albeit at a reduced level.
