Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

On the last question, the European Union has rescue and restructuring schemes in place for worst-case scenarios. We have engaged with and work very closely with the European Union.

With regard to the Brexit loan schemes, the first, announced last March, has a fund of €300 million. Grants are for a working capital facility for up to three years, which involves very short-term stuff. The loan rate is very competitive. The long-term Brexit loan is for identifying a need in the market in respect of which people can borrow for a longer term. They can borrow from €50,000 up to €3 million. Up to €500,000 can be unsecured, which is very significant. One can borrow for up to eight or ten years. Therefore, it is really for longer-term planning. It is to protect a business against future shocks. Businesses must consider carefully whether they want to take up the offer of finance. The Government is providing an array of supports to businesses through Departments and agencies but ultimately businesses have to decide themselves whether they want to avail of the supports. The job of the Government is to ensure the necessary supports are in place for businesses that need them. That is what we are doing. We engage regularly with businesses. We meet staff from representative organisations and hear their concerns. If there are issues, we deal with them.

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