Oireachtas Joint and Select Committees
Tuesday, 9 June 2020
Special Committee on Covid-19 Response
Reopening the Economy: Supports for Business
Mr. Danny McCoy:
I will answer that question, but first, on the Deputy's question to Mr. McDonnell, I suggest that it has been a very artificial closing down. For most businesses to assess what kind of support they need from the State, they first need to reopen. Then they can actually see what the demand is.
On the Deputy's specific question, the €350 payment was an emergency response and, clearly, given the numbers, we can see that many people are on a pay rise.
That is an artificial construct to keep people staying at home. It is not a productivity payment. The market has to be able to sustain the wages and salaries of the business, and if businesses cannot afford €350 per week, then there is no point artificially suggesting that this become the new norm, because it would not be a sustainable proposition.
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