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

I have spoken to all the representative bodies of the tourism industry individually at different stages over the past week or so. I know that the Minister for Transport, Tourism and Sport, Deputy Ross, is engaging with the hospitality and tourism sectors about what the Government can do to support them. Those sectors, the pubs, restaurants and hotels, have been impacted more than any other. It is a difficult time for them.

Deputy Harkin rightly said that Microfinance Ireland loans charge no interest for the first six months. There is an option in the Covid-19 working capital facility whereby interest does not have to be paid for the first six months if such a request is made.

The rates charged on the future growth loan scheme are in or around 4%. The rate is 3.5% for €250,000 under a long-term loan arrangement. Those rates are highly competitive in the marketplace. I am told that under the working capital scheme, the overdraft facility generally costs between 7% and 8% but of course it depends on the bank. The rate is 4% and we took the view that it represented good value in the marketplace. Anyway, I take the Deputy's point. Of course we are continually looking at these things to see how we can make them better and more easily accessible to businesses. As I have said in the House on several occasions, we all want to get these businesses back up and running as quickly as we can and to get people back to work as quickly as we can.

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