Fianna Fáil Spokesperson on Business, Enterprise and Innovation, Robert Troy, has welcomed the €1bn package of supports for businesses but said further measures are needed to insulate businesses from the brutal impact of COVID-19.
Deputy Troy said the ambitious €5.4 billion package announced today by the Danish Government eclipses the measures announced by the Irish Government.
He explained, “We have to be more ambitious in our plans for Irish businesses.
“Asking companies to borrow at an interest rate of 4.5% is an insult when the Government can borrow for less than 0%. This is not the answer and must be reviewed.
“We need to give liquidity supports to businesses and cash grants are one way to ensure that they can keep themselves afloat and perhaps more importantly, that they can bounce back once the pandemic passes.
“Having called for additional supports for businesses over the past number of weeks I am glad that the Government have finally responded but they will need to take it up another gear to provide the cushion needed to keep businesses viable,” he concluded.