Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

I thank the Deputy for his question and for his interest in advocating on behalf of small business in his constituency and elsewhere. To assist businesses to overcome the unique and unprecedented challenges posed by Covid-19, the Government has put in place a package for firms that includes the wage subsidy scheme, direct grants, low-cost loans, the write-off of commercial rates and deferred tax liabilities. These measures are designed to restore confidence and further assist businesses in terms of their management and business continuity, thus allowing them to begin planning for the weeks and months ahead.

My focus since I took up my role has been on the July stimulus package, which is aimed at protecting the viability of the business and enterprise sector and enabling people to get back to work as quickly as possible in all sectors. The stimulus will extend and enhance existing measures to address the impact of Covid-19 on businesses. I am engaging with my ministerial colleagues on a range of proposals. Helping SMEs is central to our efforts, given their pivotal role in the economy and employment. The July stimulus package to be announced next week will be of scale and speed.

In considering the analysis, I see five areas on which we should focus. These are income supports for workers, by way of extending the wage subsidy scheme; better direct grants for business; cheaper finance for business; new opportunities for future jobs; and targeted supports for the hardest-hit sectors. While I have emphasised the importance of preserving existing firms and jobs, the July package should also have an eye to exploiting emerging opportunities and attracting high-value projects with significant economic benefits. Importantly, the July stimulus must position our economy and firms to meet future challenges. In the near term, this includes helping companies further in meeting the challenges of Brexit, but we also need to include actions that will build enterprise resilience and help businesses to transition to the low-carbon and digital future. I look forward to announcing the details with the Taoiseach shortly.

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