Oireachtas Joint and Select Committees

Wednesday, 7 September 2022

Committee on Budgetary Oversight

Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion

Mr. Fergal O'Brien:

Yes, they could. What is crucial as well is that we are going to see falling demand. The international downturn is going to mean that some of these businesses will have less demand for their products. This is going to be the reality of what we are going to face, especially in respect of the international economy. In cases where companies are seeking to reduce production levels, it is important that their workers are supported, especially with short-time working schemes. If we do have to go to a three-day working and production schedule, then companies are not going to be building up heavy stocks in the context of these types of energy costs. They will probably be operating to a much lower production schedule. However, if we do have to face reduced production hours, employees and businesses will need to be supported so they can come out of this when energy costs normalise.

Comments

No comments

Log in or join to post a public comment.