Oireachtas Joint and Select Committees

Tuesday, 16 June 2020

Special Committee on Covid-19 Response

Covid-19: Impact on the Fiscal Position

Photo of Matt ShanahanMatt Shanahan (Waterford, Independent)
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I will ask a question about what I describe as regionality. I represent Waterford where there has been a low instance of Covid-19 and the county would have come out of the crisis much sooner but we did not have an opportunity to exit lockdown ahead of anybody else. Do the reports that IFAC gives to the Government reflect sectoral analysis by geography as well as by sector as it relates to some of the measures that are being proposed?

I also have a question about the provision of stimulus moneys which the witnesses have referenced. We know that funding is coming from the ECB and other programmes. How are those moneys to be dropped into the economy in the future? Are they going to go through the pillar banks, from which we have seen a requirement for 20% capital funding at a time 48% of loans are not approved? As I asked Dr. Orlaigh Quinn, Secretary General of the Department of Business, Enterprise and Innovation last week, is there an opportunity to put this into revenue? Are we looking at that proposal in the future?