Dáil debates

Thursday, 30 April 2020

Covid-19 (Business, Enterprise and Innovation): Statements

 

5:45 pm

Photo of Marian HarkinMarian Harkin (Sligo-Leitrim, Independent) | Oireachtas source

If the Minister is going to mention a distillery in Carrickmacross that is making hand sanitiser, I am going to mention one in Drumshanbo that is doing the same.

I thank the Minister for the actions she has taken so far. She has said many times that we must offer the right support at the right time and in the right place. I want to ask about right now. As the Minister knows, many businesses are facing a mounting wall of debt from rent, rates and utility bills. Those businesses need to pay those bills now. Many do not want to borrow because they have already done so up to the hilt. Would the Minister consider putting in place a small business interruption grant for SMEs to cover these expenses, in whole or in part? They would not be grants for planning or training, which are important, but a business interruption grant to deal with this wall of debt.

I have already asked the Minister about the rate of interest on microfinance loans and she responded that there is a six-month holiday on both repayments and interest rates. Even taking that into consideration, a €10,000 loan over, let us say, three years will cost an Irish loanee twice as much as it would in The Netherlands. Others have spoken about this issue, but given that the National Treasury Management Agency, NTMA, is borrowing at 0.5% interest, would the Minister reconsider the interest rates on microfinance? That might help those who are thinking about borrowing.

My final question relates to tourism. Despite what Deputy Danny Healy-Rae says, we in the north west consider ourselves the jewel in the tourism crown. The industry supports well over 40,000 jobs. The industry will be slow to get back and people are concerned. I know that my question also impacts on other Ministers, but what specific supports does the Minister have in mind, if any, to support the tourism industry?

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