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

It is the pandemic that is causing the harm the Deputy refers to, not the Government. We are acutely aware that the pandemic and the necessary public health measures introduced to control the spread of the virus have had a huge impact on our economy and society. Recognising this, the Government has acted decisively and on an unprecedented scale.

Almost €38 billion in fiscal support has been provided to households, businesses and our health service. This represents approximately one fifth of national income. Those who have lost their jobs as a result of this pandemic have been supported through the pandemic unemployment payment, PUP, with a cost of more than €6.5 billion euro to date. We have put in place a comprehensive suite of policies to assist businesses. The main support scheme, the employment wage subsidy scheme, EWSS, and its predecessor, the temporary wage subsidy scheme, TWSS, have cost the Exchequer more than €5 billion to date. The Government has also introduced the Covid restrictions support scheme, CRSS, to provide debt direct financial support to closed businesses. Those businesses that are not eligible to avail of this scheme are further supported by the small business assistance scheme. This is in addition to a wide range of supports provided through Enterprise Ireland, the IDA, and local enterprise offices.

With regard to the economic cost, the way in which we measure our domestic economy - modified domestic demand - declined by 5.4% last year, with domestic-facing sectors bearing the brunt of the impact. Employment is at the heart of our society and economy, but last year unemployment soared to a rate of approximately 19% recorded in 2020. Currently, just over 450,000 people are in receipt of the pandemic unemployment payment.

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