Credit Guarantee (Amendment) Bill 2020: Second Stage
Seanad Éireann — 2020-07-23
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Damien English (FG), Meath West

This is about interest rate reduction. Currently, banks can loan to those companies at a certain percentage rate. This scheme will mean that the banks will be lending at a lower interest rate. The profits and benefits from that will go to the businesses and that will help them stay open, trade and create jobs. That is the focus here. The Senator wants to have a conversation about the tax assets scheme.
I understand the amendments proposed but they are not really relevant to this discussion. They belong to a discussion that various Departments are having. As far as we are concerned, the benefits of the Covid-19 credit guarantee scheme are to be passed on to businesses and SMEs.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2020-07-23/debate/main
Retrieved: 2026-08-14T04:48:27+00:00
Sitting date: 2020-07-23