Gerald Nash (Louth, Labour) | Oireachtas source

I appeal to the Minister to take on board and accept many of these very sensible amendments because the proof of the pudding will be in the eating. As I said on Second Stage, the concept and principle of the wage subsidy scheme has much to recommend it. I again want to pay tribute to the trade union movement and the main employer body, IBEC, for their work on this and for persuading the Government of the merits of this income replacement approach, which is very expensive.

It is unprecedented in the history of the State and, therefore, we all need to be determined to make sure this works. It can work, but employers need to be absolutely confident of the merits of the scheme and that there are no pitfalls, inadvertent or otherwise, in it further down the line.

Earlier I raised issues that have been enunciated and articulated this evening by Deputy Michael McGrath and others, for example, how the 25% drop in turnover would be calculated. In terms of ability to pay, where a business may have €100,000 or €200,000 in reserve to invest in essential equipment or for work in progress which it might be obliged to have in its back pocket to allow for a project to be completed, I certainly hope Revenue would take the view that the business has sufficient cash to be able to pay its workers over the next short period of time to get it through this difficult period.

Helpful updated advice and guidance was published by Revenue this evening that has assuaged some of the concerns of businesses and some of the concerns that have been expressed to me in recent days by financial advisers, accountants and auditors who are being engaged by businesses to advise them through this difficult period. It beats me why that guidance could not have been developed and published a few days ago. This helpful guidance will encourage employers to take on this critical scheme for the future of business and working people in this crisis period.

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