Oireachtas Joint and Select Committees

Tuesday, 9 June 2020

Special Committee on Covid-19 Response

Reopening the Economy: Supports for Business

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I will now turn to the role of the banks in supporting the recovery and the temporary so-called holiday that is a three-month deferment of payment, which I would argue is not a holiday. For example, a coach operator with a number of coaches who is looking to avail of this temporary repayment holiday for three months will be charged €2,000 extra per coach. This would put a company such as that to the wall. Does ISME have a view on the banks not really providing a proper payment holiday and continuing to allow interest to accrue, which is unlike what is happening in other jurisdictions such as Portugal, Spain and Belgium under certain circumstances?

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