Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

Most of us are hearing that the small to medium sector in particular does not want to take on more debt. The rate of interest is not coming up as much as the accumulation of debt, which is coming across very strongly as a real risk that people do not feel they can take on. I assume this is what the witnesses are also hearing.

I share some of the views expressed on our industrial policy being required to change. It would be prudent for us to do so quite quickly. The whole idea of a social dialogue absolutely has to happen. Do the witnesses believe that the scale of what needs to be done, with regard to building public services, the very obvious deficits, trying to maintain as much employment as possible, and the obvious need for a major stimulus programme that is job rich and will give us a return in the longer term in human capital such as housing stock, is compatible with a deficit reduction approach in terms of the overall economy? What timeline are we looking at in terms of coming out on the other side, assuming an 18-month timeline for a vaccine?