Fianna Fáil calls for suspension of commercial rates for SMEs

Fianna Fáil calls for suspension of commercial rates for SMEs
Fianna Fáil said businesses need all the support they can to get back on their feet. File picture.

There are calls for commercial rates to be suspended for the rest of the year for small and medium enterprises.

Fianna Fáil said businesses need all the support they can to get back on their feet and the government should compensate local authorities for the loss of income.

A number of services have been put in place for enterprises, like banks offering low-interest-rate loans over a seven-year period.

But Fianna Fail's business spokesperson Robert Troy said more needs to be done.

He said: "Businesses who typically pay maybe €4,000 or €5,000 a year in commercial rates who have had to close their doors because they have no customers.

"Who have had to close their doors because of a direction by Government in relation to public health and Covid-19.

"I believe that the Government should ensure that they will not pay commercial rates for 2020."

Meanwhile, the Central Bank have said that unemployment is likely to peak at 25% by early summer, as the economy tanks at an unprecedented rate.

The Central Bank also said the outlook could get a lot worse if the Government needs to extend the Covid-19 lockdown.

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