Charlie McConalogue, Fianna Fáil TD
Emergency measures must be put in place immediately to help businesses in Donegal survive the Covid-19 crisis, a local TD has said.
Fianna Fáil TD Charlie McConalogue said that many small and medium sized businesses in the county will face very significant cashflow issues in the short-term and has called on the Revenue to adopt a flexible and supportive role.
Fianna Fáil has called for measures to be taken whereby businesses that make a VAT return but cannot make the payment should be allowed to defer the payment without the imposition of any interest or penalties.
He explained: “Businesses are facing an unprecedented situation and need to know that they will be able to keep their heads above water.
"Additional supports are needed in the form of deferral of VAT and PRSI tax payments where the businesses are experiencing cashflow problems. Banks also need to issue clear guidelines on loan repayment deferrals.
“Local Authorities should also consider allowing businesses that genuinely cannot afford payments to be allowed defer the payment. These steps are necessary so that businesses can keep a positive cashflow."
In terms of insurance Deputy McConalogue said it was wrong that insurance companies are attempting to abdicate their responsibilities when it comes to business interruption cover.
“It is completely illogical and unacceptable for insurance companies to say they will only provide cover for business interruption policies which listed COVID-19 by name.
“Covid-19 was only identified earlier this year and listed as a notifiable disease in Ireland on February 20. I would call on all insurance companies to review this stance and remove this unfair clause.
“We have to ensure that banks, insurance companies, the Revenue and others play their part to assist businesses at this time,” he concluded.
If you have a story or want to send a photo or video to us please contact the Donegal Live editorial team any time. To contact Donegal Democrat and Donegal People's Press, email firstname.lastname@example.org To contact Donegal Post, email email@example.com To contact Inish Times, email firstname.lastname@example.org.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.