Dáil debates

Wednesday, 20 May 2020

Covid-19 (Finance): Statements

 

12:15 pm

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I am aware of the matter and I have seen the work that has been done on it, in particular by theIrish Examiner, which has been examining this issue. My view is that participation in the wage subsidy scheme should not be a reason for treating an applicant in a different way. What I expect to happen is that if somebody's income has come down as a result of what has happened with Covid-19, the banks will assess whether that person will be in a position to repay the loan in the future. It would be appropriate, if the incomes of families, workers and businesses are coming down, that care be taken to ensure that if loans are taken out, people are in a position to repay it in the future. I am not in a position to get involved in any individual decisions in this regard but the Central Bank has indicated that care needs to be taken and that where loans are granted during this period, those who give the loan and those who receive it are both equally confident that it can be repaid.

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