Cathal Crowe (Clare, Fianna Fail) | Oireachtas source

I welcome the Bill and will fully support it. So far, we have managed the health crisis quite well but the litmus for test for the Government is how it will support SMEs as they try to get back on their feet and as our country negotiates its way through an evolving economic crisis. There are a number of indicators that evidence the extent of the economic crisis we find ourselves in. The total net voted expenditure for the first six months of the year is more than five times greater than it was this time last year. Concurrent with that, our economy has an unemployment rate of 22.5% and there has been a 20% drop in the expected VAT take. All of this indicates how stark the circumstances are. The sector that is most exposed in retail is that of SMEs. I am glad the Government is considering stimulating the economy rather than adopting austerity measures.

The Bill is the product of co-operation and partnership between the EU member states. Ireland's share of the EU's €540 billion support package will be used to prop up our ailing but very important SMEs. As we try to reboot our economy, these businesses will be of great importance. When we pass legislation this week, we will be delivering a crucial adrenaline shot to them. There can be no overestimating the key position held by SMEs. In my home county of Clare, there are 8,700 such companies, most of whom employ fewer than ten people but, collectively, they have major firepower, providing approximately 35,000 jobs in the county.

There are some outlying issues we still need to deal with. I hope that the Cabinet will today give full clarity on the reopening of bars, which need to have certainty as to what lies ahead in the coming days. There are also some in the SME sector that have not, thus far, been properly supported. I can think of a number of bed and breakfast operators in County Clare that find themselves outside the current criteria for certain support schemes. Some of them, due to age profile, have not been able to avail of the Covid-19 payments that so many others have been able to avail of in recent months.

The Bill is very important. There should be full and unequivocal support for it tomorrow when we vote on it. This legislation will give a much-needed adrenaline shot to SMEs.

See this speech in context