CEO Update: Ibec letter to Government as calls for restoration of EWSS intensify

The latest CEO Update to Ibec membership from Danny McCoy

Dear member, 

Yesterday, I wrote to An Taoiseach Micheál Martin and key Cabinet ministers to voice business’ growing concern at supports being offered to business to navigate the new Covid challenges.  The letter can be found attached below. 

Many Ibec members across a broad range of sectors of the economy have engaged with us in recent days to detail the disruption and substantial loss of business they are suffering as a direct result of Government’s Covid restrictions announced last week.  

Government supports throughout the Covid crisis have been highly effective in supporting impacted businesses, and we see no logic, fiscal or otherwise, for curtailing these supports at a time when additional restrictions have been introduced. The repurposing of the COVID Restrictions Support Scheme (CRSS) alone will not be sufficient as a business support for the current challenge facing the economy and a full restoration of the Employer Wage Subsidy Scheme (EWSS) is the most effective and fair policy response.  

Now is not the time for reticence. We know from the recent economic data that the budget deficit for 2021 is likely to be about €10bn less than was expected in the Spring 2021. Government has the resources to do the right thing and must deliver a much-needed safety net for those concentrated pockets of businesses struggling in the face of ongoing Covid restrictions.  

In addition to our political outreach, we are engaging extensively in the media to ensure the concerns of business are heard. Our letter has been covered by RTÉ News, the Irish Examiner and the Irish Independent to name but a few outlets, while I also appeared on both Newstalk’s The Hard Shoulder and RTÉ’s Drivetime (from 1:19:22 in clip) yesterday evening. 

As always, please get in touch with your thoughts on any of the above. It is always good to hear from you.  

Regards, 

Danny McCoy

CEO

Ibec