Fingal TD welcomes further €160m in business supports

Fine Gael TD for Fingal, Alan Farrell says he welcomes the commitment from Government to provide an additional €160 million in Covid-19 Business Support Grants. 

Deputy Farrell said in a statement that “Covid-19 continues to curtail thousands of businesses around the country, putting their future viability in doubt.

“Since the beginning of this pandemic, significant support has been provided in order to prevent job losses and help businesses weather the storm.

“Today’s announcement of an additional €160 million to these supports, is yet another sign of the Government’s commitment to help businesses through this time of uncertainty.

“€60 million of this funding will go towards the newly created ‘Covid-19 Business Aid Scheme’ (CBAS).

“This will help businesses that have previously been ineligible for other support schemes.

“This will mean wholesalers, caters and events companies, who have seen revenue fall by 75% will now benefit from this scheme.”

Deputy Farrell said that the scheme will introduce a tiered system of applying for funding.

“’The Sustaining Enterprise Fund’, will see €90 million in funding.

“This scheme offers funding of up to €800,000, with €200,000 or 50% in non-repayable grants to eligible manufacturing and internationally traded services companies.

“To date we know that this fund has protected 22,000 jobs across Ireland.

“The remaining €10 million will be provided to support the ‘Covid-19 Products Scheme’ which assists companies engaged in the production on PPE, critical to our fight against Covid-19”.