Chambers welcomes the Revenue Commissioner’s statement on the Debt Warehousing Scheme

Speaking earlier today, Chambers Ireland’s Chief Executive, Ian Talbot, said

“With over 90% of debt already repaid, the operation of the Debt Warehousing Scheme has been a great success.

“This scheme provided liquidity to firms that were struggling through the darkest days of the pandemic. The early repayment of these debts demonstrates the wisdom of this policy.

“For the 59% of businesses that have exited the scheme, it was a lifeline that supported many livelihoods and households.

“With the winding up of supports like the EWSS difficult days are coming for many businesses that continue to struggle. Many in our network are concerned about the war in Ukraine’s impact on the tourist sector here, meanwhile increased energy prices are undermining the viability of other firms that are operating in particularly exposed sectors.

“With so much in flux at the geo-political level, Chambers are urging government to maintain policy flexibility around the winding up of any more supports.”

– Ends –

For further information contact Shane Conneely, Director of Policy and Communications, 086 3244 940 or email shane.conneely@chambers.ie

About Chambers Ireland:

Chambers Ireland is the voice of business throughout Ireland, with 40 member chambers across every major city, town and region of the island. Aligning our strategic priorities with the UN’s Sustainable Development Goals, our aim is to make places better to live, work and do business