Thursday, 18 February 2021
Covid-19 (Enterprise, Trade and Employment): Statements
The Minister for Finance is heading up that. He has made the application for funding under the SURE scheme. As I understand it, it involves borrowed money. It is an EU fund from which we can borrow money for schemes such as the EWSS, but it is at a blended rate. We can actually borrow more cheaply from the markets than from EU funds. It is more expensive to borrow through the SURE scheme than on the money markets. We are participating because we believe we should do so, but it is actually more expensive.