Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Plan of Action on Collective Redundancies following Insolvency Bill 2023: Discussion

Photo of David StantonDavid Stanton (Cork East, Fine Gael) | Oireachtas source

During Covid a lot of companies were supported. I have seen reports in which people have speculated that many companies that would have closed down in the normal course of events were kept alive, which is a good thing in many ways. Now that these supports are being unwound and taken away, do the officials anticipate that many companies will become insolvent and close? Is there a pent-up demand or potential for closures, which may be a delayed reaction in some ways? Has research been done on that? This legislation, if and when it is enforced, will be important.

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