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Covid-19 Pandemic Supports

Dáil Éireann Debate, Thursday - 15 October 2020

Thursday, 15 October 2020

Ceisteanna (60)

Aindrias Moynihan

Ceist:

60. Deputy Aindrias Moynihan asked the Tánaiste and Minister for Enterprise, Trade and Employment his plans to support businesses following the announcement of level 3 Covid-19 restrictions in view of the fact that additional measures of support are available for counties Donegal and Dublin; and if he will make a statement on the matter. [29850/20]

Amharc ar fhreagra

Freagraí scríofa

The Government made the decision that from midnight on the 6th of October, all remaining counties were to be placed on Level 3 for a period of 3 weeks until midnight on 27th October 2020, at which point we will again review the situation, based on the status of the virus and public health advice.

I understand that these restrictions will have a significant impact on businesses and employment around the country. In recognition of the impact of these restrictions on businesses a 30% top-up to the Restart Plus grant will be provided to help support those affected through the three-week period. Businesses who have previously benefited from the Restart Grant will be eligible to re-apply for this top-up.

This is in addition to the €7bn July Stimulus of supports for firms of all sizes, which includes the wage subsidy scheme, the pandemic unemployment payment for the self-employed, grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs to assist with restructuring as a result of the COVID-19 pandemic.

This week's Budget contains targeted actions to help business where they are hurting most. 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 new CRSS programme will provide closed or effectively closed business a payment based on their turnover up to €5,000 per week. This will make a really big difference and will be paid in addition to the Employment Wage Subsidy Scheme (EWSS).

I continue to work with my colleagues across Government to assist businesses impacted by COVID-19 to adapt to the changing business landscape. Budget 2021 is testament to our commitment to supporting vulnerable but viable businesses in all sectors of the economy. In the coming weeks, we will be finalising the report from the SME Growth Taskforce, which will input to next month's National Economic Plan.

Question No. 61 answered with Question No. 28.
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