Covid-19 Pandemic Supports
Dail Éireann — 2022-02-10
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Peadar Tóibín (AON), Meath West

I am glad the Tánaiste did compare the monetary elements of the crisis to the banking crisis because it is in that space financially. A figure of €40 billion is a phenomenal amount of money that has built up cost-wise over the past two years. A lot of that was necessary. The Tánaiste should not get me wrong; I am aware the Government had to make difficult decisions over that period, but we are talking about an enormous economic impact. Last year, we had a deficit of €9 billion, and we have a deficit this year in the billions as well and a national debt approaching a quarter of a trillion euro currently in the State. We are talking about a situation where interest rates are about to take off and the effect that will have on society, families and businesses. Inflation is another issue.
Approximately €3 billion in business taxes is being warehoused as businesses have not been able to pay them. That cohort of businesses is in a precarious situation going forward. How will they be helped?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-02-10/debate/main
Retrieved: 2026-08-14T04:50:07+00:00
Sitting date: 2022-02-10