Limerick Chamber publishes a set of proposals from an employer’s body for government supports to critically help businesses through the COVID-19 crisis.
Limerick Chamber publishes proposals to help businesses through the COVID-19 crisis
Our proposals for the next steps for economic supports were published this morning. https://t.co/A5N953PK9W. We are talking to elected reps & other representative bodies to support government consideration. #Limerick pic.twitter.com/eb6QB1sqQs
— Limerick Chamber (@LimerickChamber) March 24, 2020
Limerick Chamber publishes the most comprehensive set of proposals from an employer’s body for government supports to help businesses through the COVID-19 crisis.
The largest business representative body in the Mid-West, which submitted the recommendations today, said that while initial measures from the government were welcome, they do not go far enough.
Crucially, they said, the government should take bigger steps to protect the economy and the relationship between the employer and employee.
The proposals are stacked to provide critical support business in the short-term but also look at long term economic policy. Among the measures suggested are that government would:
The Chamber also proposed a number of long-term measures, including that government:
Limerick Chamber’s Chief Economist Dr Catriona Cahill: “The COVID-19 outbreak is an exceptional situation that requires an exceptional policy response. Although public health measures must remain an absolute priority, we must now also begin to consider the most effective policy response to support the economy during and beyond the crisis period,” she said.
“Limerick Chamber called for several initial and immediate actions at the onset of this crisis. The government has responded to these calls by implementing a range of business supports. While we welcome the Government’s swift response, the measures represent what was necessary in terms of immediate action but do not go far enough.
“During a normal recessionary period, we might pause to consider the budgetary repercussions of excessive spending. Such budget considerations cannot be a priority on this occasion, however. While the pandemic shock is expected to be transitory, the economic shock could be persistent if we fail to act swiftly.
“Borrowing rates for sovereigns are at historical lows and Ireland should take advantage of this. It is imperative that the COVID-19 response is funded from additional borrowing and not from previously committed public funds.”
For more information, see www.limerickchamber.ie
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