Mr. Donall O'Keeffe:

I would make two points regarding the regulatory environment. One is specific to the Central Bank, as financial regulator. We met representatives from the bank in January and suggested that while our sector remains in level 5 lockdown or, heaven forbid, enters level 5 lockdown in the future, an automatic mortgage payment break should be put in place. The financial response last April was very good because a sector-wide and industry-wide mortgage payment break system was put in place for six months while we were closed. It is now considered on a case-by-case basis. The entire industry, spanning pubs, restaurants and hotels, is in level 5 lockdown. A regulatory solution to provide for that would be that, during a level 5 lockdown, any business should automatically qualify for a mortgage payment break for as long as it endures.

My second point in response to Deputy Cannon's question on the regulatory framework for recovery is that, clearly, the wet bars have been the worst affected, but the late bars and nightclubs have been almost as badly affected and are facing potentially a slower reopening. The special exemption order costs are enormous. The regulatory framework around late trading is prohibitive, bureaucratic and expensive. We know the Government is about to embark on a process to re-examine late trading conditions. We certainly believe there is an extraordinary strong case to be made for making that far more business friendly and allowing the late bar and nightclub sector an opportunity to recover from the ferocious closure that they have endured.