Oireachtas Joint and Select Committees

Tuesday, 30 June 2020

Special Committee on Covid-19 Response

Impact of Covid-19: Arts and Entertainment Sector

Mr. David Mongey:

It is a struggle. In fairness to the banks, they have given a three-month moratorium, but the leasing companies simply want their money. That is why I said that I think grant aid would make a significant contribution to getting us over the hump for the next couple of years. A long-term loan at zero rate would also make a significant contribution. When a person goes to a bank seeking a loan, he or she does not have to jump through the same hoops and deal with the bureaucracy. A simple VAT return from any business in this sector will show the collapse of the industry. Some grant aid for people in the industry, particularly to pay for their stock and help with financing, would make a huge contribution.

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