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Dundalk councillor calls for moritorium on commercial and water rates amid Covid-19 crisis
Reporter:
David Lynch
15 Mar 2020 12:22 PM
Local councillor Emma Coffey has called for a moritorium on commercial and water rates for businesses in the local area due to the Covid-19 outbreak.
In a statement to the Democrat, Cllr Coffey said: "We are in unprecedented times, and I genuinely believe that life will change in many ways after we get through the corona virus crisis - and get through it we will.
"Many businesses and individuals are now making huge sacrifices in all our interests. These actions have financial consequences and when we come through this, there will be economic and employment challenges. We need to support our local businesses in any way we can .
"Our SME's make up 85% of our economy they are vital in our society. The government needs to ensure that our local businesses survive and make provision for the sacrifices made by them, one such measure is a moratorium on commercial rates and water charges for the period of national closure from Thursday the 12th of March 2020 until these measures are lifted. Our banks also need to show some understanding and suspend interest charges on all commercial loans and business overdraft facilities for the same period of time.
"This is only one suggestion that I am calling on the Government to implement, but without such steps many businesses will be crippled and will go under. The knock on affect of this will result in many people facing mortgage arrears , if interest rate stays low this will help. Our local Businesses will need major flexibility and support in the very difficult times ahead the Government needs to give them the reassurance that this will happen."
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