Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

That is what we are doing. After a year, we are bringing through legislation and honouring a commitment to give viable small and micro companies the opportunity to restructure. At least the Deputy sat in for the debate. Deputy Ó Ríordáin was critical of what we are doing and of the time allocated for the debate. He took five of his 20 minutes to contribute and then skipped off and did not participate in it. This is about ensuring small viable companies have the opportunity to enter into restructuring process to protect the company and, more important, the jobs that are dependent on it. I do not take the criticism the Bill is rushed at all.

I thank Deputy Shanahan and the Regional Group of Independents for supporting the Bill. The Deputy mentioned a number of points. One was that ISME should have a place on the labour employer economic forum. I agree with him. I have made that point to the Taoiseach and the Tánaiste and will continue to make it. I also agree on antigen tests and I have continuously said that internally in my party. It is worth nothing that antigen testing is included in the return to work protocol published by our Department in May. It sets out how it can be used in various workplaces. It is being used well in workplaces and it should be rolled out further.

Deputy Shanahan also mentioned the hospitality sector. We were all bitterly disappointed that we had to press the pause button earlier this week but in acknowledgement of the difficulties the sector is experiencing because of that, there are enhanced supports for the next number of weeks, and rightly so. The Taoiseach, the Tánaiste, the Minister for Health, Deputy Stephen Donnelly and the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Deputy Catherine Martin, met with various representative bodies on Wednesday this week and extensive work is ongoing to come up with practical solutions to help get them open as soon as possible. I have engaged with some representative bodies on that. There is a willingness to come up with solutions but we have to be cognisant of the issue with the new variant and we have to ensure that we protect the overall economy and our health service. I do not think anyone would like to see the health service experiencing the difficulties it experienced in January.

Deputy Fitzmaurice made a number of points. He referred to Revenue debt and was asking, I think, whether it is so many cent in the euro. Every plan will vary but Revenue or any creditor must receive more than if the company went into liquidation. That is in the best interests of creditors. It will vary depending on how the restructure is decided upon.

The Deputy is right about small and microbusinesses. They are the backbone of the economy. A total of 788,000 jobs are in the sector. Any business with fewer than 50 employees and with an annual turnover of less than €12 million can avail of the scheme. Some 98% of companies registered with the Companies Registration Office fall into in that category. That is another reason it is important to get the legislation enacted before the summer recess. Businesses are at risk of failure. Businesses and the stakeholders that engaged in this do not want to see it pushed out any longer than it should be.

Deputy Catherine Murphy had a query on onerous contracts, particularly in the context of leases. This is the same as the examinership process in terms of repudiation and treatment of leases. There are two options. One is similar to examinership and involves going through the court process. The second is to come to a mutual agreement under the supervision of the insolvency practitioner. The Deputy was right to acknowledge George's Street Arcade for the manner in which that landlord engaged with lessees. That was done very publicly but there are many other landlords who have engaged practically and reasonably with lessees because they want to ensure the business survives and continues to trade.

I thank the Ceann Comhairle for facilitating the debate and I thank Deputies for their contributions. I look forward to working with Deputies on Committee and Report Stages. It is urgent that we get this legislation enacted before the summer recess.

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