Oireachtas Joint and Select Committees

Wednesday, 19 January 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Covid-19 Payments and the Sale of AIB shares: Minister for Finance

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It needs to be asserted here because this is a classic tactic by the Deputy and Sinn Féin. He is creating an inference that I am seeking to prioritise the wealthy in any scheme that I bring in. The reality, however, is that this scheme was brought in to save jobs and it has been successful in doing so. I refer to the assertion I made and stand over - it is my view that if we brought in a criterion relating to dividend issues, dividend payments could be deferred at a point in the future. It is also my view that having an access condition for the scheme that is based on profitability would have been inappropriate and would have undermined the operation of the scheme. When some companies exit the scheme, they will have a low level of profitability or might be making a bit more profit than they expected. They will need that when they exit the scheme and its supports are removed. The Deputy cannot state how many people are working for the employer in question. It is to the people who are working for that employer that I have primary responsibility.

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