Progress in Reopening Economy Welcome – Retention of Financial Support in this phase critical

Chambers Ireland welcomes this afternoon’s announcement (5 June 2020) that the “Roadmap to Re-Opening the Economy” will be escalated and compressed to four stages, rather five, and that we can now progress to Phase Two. This signals that we are through the worst of the COVID-19 outbreak, and returning, with caution, to normality.

Speaking this afternoon, Chambers Ireland Chief Executive Ian Talbot said,
“Getting the balance right between supporting the economy and livelihoods, while also protecting public health, is no easy task The responsibility of Government in making these decisions is an unenviable one. The business community has shown leadership throughout the crisis, and now that the worst of the Coronavirus outbreak has been quelled, news that an easing of restrictions can now occur will be widely welcomed by our members.

We have cautioned throughout the crisis that reopening the economy will not be as straightforward as shutting it down. Businesses have suffered immense economic damage over the past two to three months. They will require as much financial support from the State in these phases as they did during the lockdown. If this support does not materialise, we risk permanently losing jobs, and job creators, over the coming months. This will further compound the damage to the Irish economy and restrict our ability to recover quickly.

The announcement that the Temporary Wage Subsidy Scheme (TWSS) will be retained until August is extremely welcome, and necessary in supporting the recovery. As we move to Phase Two, we call on Government to work with us in determining what interventions will be required to support different sectors, including retail, manufacturing, tourism, and hospitality.”

Jimmy Stafford President of Letterkenny Chamber on hearing these new measures said,
“Our members and the wider business community have really been hoping for this announcement and most in the retail sector have been preparing to get back on Monday 8th.  Business owners have complied with the guidance well as have the citizens of Ireland. They will have measures in place and we know that retail will be a different experience but we know that all our business community will have a warm welcome waiting for their customers.  We are encouraging everyone to re-discover their favourite outlets and to Shop Local as much as possible.  We hope we can gain the confidence of the local shopper and we will continue to do all we can to support our local businesses.”

Ian Talbot finishes by saying “There will of course still be much to do so we remind Government, and the parties who are negotiating to form the next Government, that the wider needs of the economy must not be forgotten. Investing in our town centres, in infrastructure and in housing was our priority issue ahead of the February election.This has not changed, and in many ways, is now more important. The economy will not recover unless it is sustained through public spending and investment.”

Progress in Reopening Economy Welcome

by Toni Forrester time to read: 2 min