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Dail Éireann · 2022-02-22

Part of Priority Questions

Economic Policy

3 contributions · 3 speakers · 345 words

Q10 IND Michael Lowry to the Minister for Finance

10. Deputy Michael Lowry asked the Minister for Finance his plans to introduce measures to support businesses impacted by increased energy, fuel and insurance costs (details supplied); and if he will make a statement on the matter. [9668/22]

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Summary of this debate

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While larger grocery, pharmacy, hardware and retail outlets maintained or increased trade during the pandemic, smaller retailers faced periods of closure and significantly reduced footfall. Many of these businesses still have a number of months of Covid support available to them in the form of the employment wage subsidy scheme. I acknowledge that the Deputy has made a number of constructive suggestions over the last two years to change the operation of the employment wage subsidy scheme and the Covid restrictions support scheme, which I have taken on board.

Those schemes are still in place for many businesses affected by the pressures to which the Deputy refers. We are not yet out of two years of an exceptionally high level of support for our economy, which was needed, and a very high level of support to many businesses.

Built by scoring every sentence in the debate on how distinctive its language is, then quoting the highest-scoring ones back word for word and in the order spoken. Nothing is paraphrased or invented — if a sentence appears here, it was said in the chamber. Drawn from 345 words across 3 contributions by 3 speakers.

Most used terms in this debate

How often each word appears across the whole debate, ranked by how distinctive it is to it rather than common to all parliamentary language.

businesses 6
covid 4
grouped 2
many 6
subsidy 2
candid 1
wage 2
brief 2
restrictions 2
hardware 1
place 4
support 4

The full debate

All 3 contributions, start to finish, in the order they were made.

CC Seán Ó Fearghaíl

Question No. 10 was to be grouped with Question No. 8 but if the Deputy wants to make a brief contribution on the matter, maybe the Minister would give a brief reply.

IND Denis Naughten

I was not aware the question had been grouped. The last two years have been a very challenging time for businesses due to the Covid-19 restrictions. While larger grocery, pharmacy, hardware and retail outlets maintained or increased trade during the pandemic, smaller retailers faced periods of closure and significantly reduced footfall. On top of that, the costs of energy, fuel and insurance have all risen significantly over the last 18 months. These increases are greatly impacting on the ability of many to continue to trade. They urgently require assistance from the Government.

FG Paschal Donohoe

I thank the Deputy for raising this issue. Many of these businesses still have a number of months of Covid support available to them in the form of the employment wage subsidy scheme. I acknowledge that the Deputy has made a number of constructive suggestions over the last two years to change the operation of the employment wage subsidy scheme and the Covid restrictions support scheme, which I have taken on board. Those schemes are still in place for many businesses affected by the pressures to which the Deputy refers. Do I at this point have any plans in place to bring forward a further set of business supports? The candid truth at the moment is that I do not. I accept that many businesses are facing new challenges in the rising cost of energy and in retention of staff. We are not yet out of two years of an exceptionally high level of support for our economy, which was needed, and a very high level of support to many businesses. That is going to be in place for many of them for a number of months. To be clear, that was for Covid, for a different reason. Even in the current environment of a lower Covid impact on businesses, those supports are still in place, albeit at a reduced level.