Oireachtas Joint and Select Committees

Tuesday, 30 June 2020

Special Committee on Covid-19 Response

Impact of Covid-19: Hospitality Sector

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

May I ask him about the banks and older borrowings within businesses that have come through the recession and the financial crash? Is there a demand within the sectors to bundle those loans and seek support for those loans in the long term with help from the Government? This would allow businesses to deal with long-term debt and short-term requirements for capital, with them getting all of it at a sustainable rate for the business.

What has been the response from the banks to requests for support or loans, or perhaps a stay on the heavy debt of businesses? Mr. Cummins raised the point of landlords demanding that rent continue at the level it was prior to the Covid-19 crisis. He spoke about utilities cutting off services to businesses. What does he want the Government to do about this?

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