Jackie Cahill (Tipperary, Fianna Fail) | Oireachtas source

The €350 Covid payment had to be introduced for workers who lost their jobs through no fault of their own. We have to try to get small businesses back to work. It was referred to by a couple of speakers earlier in this slot. Our banks and the way small businesses are treated has to be addressed and changed immediately. Some €6.5 billion was provided to help businesses to reopen. I have been advised by business professionals that there is an extremely low uptake of this money. This is not to be interpreted as a lack of need but rather that the banks are not lending. Even though some of the risk is being underwritten by the Strategic Banking Corporation of Ireland, SBCI, and there is only 92.5 cent to be paid back on the euro, and they are charging 4% to 5% to their customers, it is still not working. The reason being advanced by the banks for not accepting applications is adherence to Central Bank rules, but those rules are related to long-term borrowing, not to the working capital that is needed now. The loans being looked for at present are limited to a one to three year repayment period, so they can definitely be classed as working capital.

A specific case was brought to me during the week where a company had SBCI pre-approval. When it took it to the bank, it had all the boxes ticked, including three year financials, tax clearance, cashflow forecasts etc. Within a matter of hours, it got a blank dismissal from the bank. Banks are lending money to professional firms but no manufacturing or trading business is being considered. Our banks are acting in a manner that is less than helpful in recovering from the Covid-19 crisis. Unfortunately, profit is the only mantra that they adhere to. This has to change rapidly. We are told that another fund of €2 billion is available, which legislation will help to work more efficiently. Unfortunately, we have to wait for the establishment of a new Administration for that to happen. Businesses cannot wait. They are in urgent need of working capital and this has to be addressed immediately.

I also want to make a point about SafePass cards.

Thankfully, the construction industry was allowed to return to work on 18 May. However, anyone wanting to work on a construction site must have a Safe Pass card. There is a restriction on holding Safe Pass courses at the moment due to the pandemic. I was contacted by a firm in Tipperary with more than 200 people employed post-Covid. Some of the firm's current employees cannot return to work because their Safe Pass cards expired before 1 March. It also cannot take on any new employees. A number of people have returned to the country in the past couple of months and again they cannot return to work. This anomaly needs to be addressed and SOLAS needs to hold courses straightaway so that employers can get the workers they need to get the construction industry back working as quickly as possible.

Deputy Troy spoke about the inconsistencies in the roadmap. Thankfully, the numbers of those infected by the virus are dropping by the day. Unfortunately, families are still losing loved ones, but the figures have dropped dramatically in the past week to ten days. We need a review of that roadmap. Some of the inconsistencies we saw last Friday week when the first stage of the reopening was announced must be addressed. While hardware stores are allowed to open, other homeware shops are forced to stay closed. Large multiples like Dunnes Stores are having sales for clothes while the smaller retailers in the centres of towns are still closed. Those inconsistencies must be addressed.

Will workers who have been in receipt of the €350 Covid payment, whose workplace is now reopening but turnover is still seriously affected due to restrictions, be entitled to a payment subsidy?

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