More payments due from Increased Cost of Business Grant Scheme

Minister for Enterprise, Trade and Employment Peter Burke has said under the Increased Cost of Business Grant Scheme, the hospitality and retail sectors will get another payment.

Speaking on RTÉ's Morning Ireland, he said over 60,000 businesses have received a payment, which is 83% of all those who have registered having been paid.

Mr Burke said that in the weeks ahead, the department is starting a second payment for those vulnerable sectors.

He said this follows a report conducted by the Department of Social Protection and the Department of Enterprise which demonstrated very clearly that, in terms of the increased regulatory pressures with increased costs over the last 18 months the very vulnerable sector is hospitality and retail.

The Minister pointed out that the sectors employ about 75% of the country's national minimum wage workers.

"There's been significant increases for workers trying to improve their conditions, making work pay and showing they have better quality of life and quality of working conditions. And obviously there's increased costs attached to that. And that's why we're giving this payment to try and assist them with those increased costs," he explained.

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Peter Burke also said that he plans to have a "very strong package" in the Budget for SMEs.

"Over the last 14 weeks, I've listened to so many sectoral representatives, met so many business owners up and down the country and so important as a Government, we listen to them, we respond as best we can in a sustainable way over the weeks ahead," he added.

In relation to any VAT reduction, he said he would not go into bilateral relationships with ministers.

"We have to take this as a collective. I've put together my pre-budget submission now and I'm working right through that to ensure that we will have a very strong voice for business," he said.

"But I do hear the voice of the hospitality sector. It is very significant and they are under pressure and that's why we need to respond as a Government," he added.