Oireachtas Joint and Select Committees

Wednesday, 14 February 2024

Committee on Budgetary Oversight

Temporary Supports for Business: Discussion

Photo of Patricia RyanPatricia Ryan (Kildare South, Sinn Fein) | Oireachtas source

I thank our guests. Like Deputy Canney, I know people who are concerned about their businesses and may be thinking of packing in the business and going to work for somebody else. I would be concerned about that for various reasons. I will ask two quick questions consecutively, if that is okay, because it is late in the evening. With regard to the once-off measures provided to businesses post Covid, such as the deferral of rates payments, is any consideration being given to a repetition of these supports, given that many businesses, especially SMEs, are still struggling to survive when facing crippling energy bills, increased costs for raw materials and products and rising insurance costs?

I am going back to issues similar to those discussed by Deputy Canney but perhaps I am asking in a different format. Regarding the increased costs of business grants announced by the Government in budget 2024 and recently capped at €5,000, how does the Department see that amount enabling most SMEs to mitigate their increased costs, given that those SMEs have been hit with the increased cost as a result of the increase in the statutory minimum wage? It is right that the minimum wage is to rise but the increase, even in respect of one employee, would effectively negate the benefit obtained.

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