July stimulus doesn’t go far enough says Chamber CEO

Good but lot’s more to do is the line for Waterford Chamber in relation to the July Stimulus which was announced by Government on Thursday last.

The measures include:

• Expansion of grant aid for business impacted by COVID-19
• Extension and reform of the Wage Subsidy Scheme beyond August, to March next year
• Extension of Commercial Rates Waiver
• Stimulus measures to support sectors vulnerable to pandemic social-distancing, including retail, hospitality and tourism
• Additional funding for active travel infrastructure

Speaking after the announcement, Gerald Hurley, CEO of Waterford Chamber said: “The July stimulus is a strong recognition of the gravity of the situation facing local economies and these measures will provide some breathing space for business until Budget 2021.

“However, I feel it didn’t go far enough as we must be cognisant of the ever increasing debtors lists that businesses are experiencing right now. We will certainly be in regular contact with the Government on behalf of our members as we lead up to the Budget and proposed National Economic Plan to ensure further supports are put in place.

“There are so many aspects for businesses to understand in the Stimulus and they need to understand the options available to them. We would encourage all businesses to avail of the opportunities and to help businesses, we will be hosting a number of webinars in the coming weeks to tease out all the details.

“Of course, the priority now must be to ensure that the schemes and funds announced are immediately available to business. There needs to be rapid implementation, clear communications, and equity in how these supports are administered around the country.”

“We are also conscious that some of the announcements, particularly the Rates waiver, may fall short of what is needed. Our own data has shown us how deeply impacted businesses in local economies have been because of COVID-19. Many will struggle to pay Commercial rates and other bills this year, which will leave our local authority in a very vulnerable position at a time when we need them to be supporting and investing in local economies more than ever.