Oireachtas Joint and Select Committees

Tuesday, 9 June 2020

Special Committee on Covid-19 Response

Reopening the Economy: Supports for Business

Dr. Orlaigh Quinn:

I will address that and I will ask my colleague, Mr. Hughes, to come in as well as he specialises in this area. We have about 36,000 businesses on bank loan breaks. Our schemes will then be available to come in and support those businesses as time progresses. Our first port of call was to work with the banks on forbearance and that has proven to be successful. All the other schemes such as the wage subsidy scheme, etc., also come into the picture. I will ask Mr. Hughes to specifically comment on the point the Deputy raised about what will happen to the businesses at the end of their period of time receiving forbearance or supports.

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