Mr. Danny McCoy:

I agree with the Deputy that it is surprising we have not got support of that scale. I made a contrast with the UK earlier when I said that the capacity of the state to get liquidity to employers to help with their employees has not been matched in the UK in the way it has been matched here. This may be part of the explanation. The reopening itself requires people to assess what loans may be required to be drawn down. I fully concur with the Deputy, particularly on the credit guarantee.

We need it to be 100% guaranteed, with no caps on it, and at a low interest rate be it 0% or not. That is the scale. Our understanding is that it is a legislative process. Given the state it is at currently, legislation is needed for some of these changes. Perhaps Deputy Doherty could direct me better on that front.