Oireachtas Joint and Select Committees
Wednesday, 21 October 2020
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with Governor of the Central Bank
Mr. Gabriel Makhlouf:
I cannot speak for the whole range of measures that might be available from which the Government can choose. I agree with the Deputy that we need to make sure we avoid what economists call the scarring effect of the crisis, in particular that we avoid long-term unemployment. Training schemes for young people are part of the menu of options. In my view, and this is not necessarily a strict view on youth unemployment, one of the economic risks we are currently facing is the mental well-being of the population, whether they are in the workforce, consumers or just part of the community. Focusing on that is probably as important as specific measures such as training schemes.
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