Press Release 06 May 2020

Dear Client,
 
I’m getting back in touch with you on foot of the Government’s latest public health advisory regarding restrictions of movement due to Covid-19.
 
On Friday (May 1st 2020), An Taoiseach said the existing public health measures announced on April 10th will be extended until May 18th with some very limited lifting of personal travel restrictions.
 
The Government has published a detailed phased plan setting out how they see different sectors, including enterprise, will return to operation. The roadmap is available here with the enterprise element contained on page 10.
 
The Government list of essential services remains in place. Details can be found here. Those that are covered by the categories on this list can continue to operate, while respecting all public health advice.
 
All businesses should familiarise themselves with the roadmap and what it means for their operations, as it applies to essential and non-essential services. It will be of paramount importance that businesses make themselves aware of all public health advice and requirements and prepare for a return to work that protects employees and those accessing your facilities.
 
The measures that Ireland has operated have undoubtedly saved lives. I am extremely conscious of the continuing challenges involved for your business and I want to thank you for playing your part in getting us to this stage in dealing with this global crisis and your continued forbearance as we work towards this common goal.
 
On Saturday (May 2nd 2020), the Government introduced a new set of measures to support the economy and businesses.
 
Those measures are:
 

  • 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 €10,000 restart grant for micro and small businesses based on a rates/waiver rebate from 2019;

  • 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

 
The full detail of these are available here.
 
We in IDA Ireland are here to help should you require guidance or assistance in accessing the Government schemes in place to support businesses.
 
Our continued thanks to those FDI employees who are working in the production and supply of necessary goods and services in Ireland and across the world.
 
Yours sincerely,
 
Martin Shanahan

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