The Government has agreed, at a special Cabinet meeting, a suite of measures to further support small, medium and larger business that are negatively impacted by Covid-19.
Those measures are:
➡️ A €10,000 restart grant for micro and small businesses based on a rates/waiver rebate from 2019;
➡️ A three-month commercial rates waiver for impacted businesses;
➡️ A €2 billion Pandemic Stabilisation and Recovery Fund within the Ireland Strategic Investment Fund (ISIF), which will make capital available to medium and large enterprises on commercial terms;
➡️ A €2 billion COVID-19 Credit Guarantee Scheme to support lending to SMEs for terms ranging from 3 months to 6 years, which will be below market interest rates;
➡️ The ‘warehousing’ of tax liabilities for a period of twelve months after recommencement of trading during which time there will be no debt enforcement action taken by Revenue and no interest charge accruing in respect of the warehoused debt;
➡️ A commitment to local authorities to make up the rates shortfall so that local authorities can continue provide full services to the public.
Bray & District Chamber believes implementation of support is critical. The funds proposed must be capable of rapid draw down and the organisations charged with delivery are properly resourced to undertake the tasks.