As we end a week of enormous change for everyone we’d like to take this opportunity to commend you on how Limerick’s business community has reacted.
This week we stand in solidarity with our Retail and Hospitality community members who have taken the first major hit of what will likely be a rolling negative economic wave. Undoubtably more of us are facing the same decisions that will impact colleagues and friends next week and beyond.
This economic crisis will have an end and our work in the Chamber, led by our Chief Economist, Dr Catriona Cahill and supported by the sectoral expertise of members of the Board, is now focused on informing our views of what the best possible supports for Irish and Mid West Business should be. Will Goodbody has an excellent article that you’ll be interested in online this morning that captures the last seven days in the economy, click here to read it.
This morning we can up-date you on the detail relating to two deferral and support schemes. We have confirmation from Government of the approach they are endorsing for local authority rates and while we have some clarity around a common query on the Employer Refund Scheme, we have gone back to the Revenue Commissioners with more questions.
Local Authority Rates
We’ve spoken to both the CEO and Deputy CEO of Limerick City & County Council who confirm that they will be offering deferrals of rates until end May to businesses impacted by the Coronavirus pandemic, and that they are standing by to assist affected businesses. Please email rates@limerick.ie or phone 061 556360 to engage with the Council and to get your rates deferred.
The Chamber believes that rates should be waived completely for businesses that have ceased trading (even for the period of the pandemic) and we are working through elected reps and with other sectoral bodies to seek central government funding for this to happen.
Employer Refund Scheme FAQ
Following the announcement of the Employer Refund Scheme, a query arose for many of you around whether or not it is permissible to pay MORE than the €203 to an employee for whom you no longer have work. (The scheme as initially presented looks to prohibit payments of more than €203). Last night Minister Doherty has confirmed that she will adjust the scheme to allow employers to pay above €203 and still be eligible to reclaim €203. The Minister is working through the detail and we will circulate that as soon as we get it.
We have gone back through Revenue Commissioners to seek clarity on a number of technical aspects of the scheme including, crucially, if refunds will be withheld should a business have not kept taxes up to date.
Stay at home
Above all else, remember the importance of limiting your movements and that of your team to only the essential. We are on the cusp of seeing a surge in our hospital and every action we take now will help to spread out the incredible pressure that our healthcare workers are about to come under, and will help to save lives. The best advice we’ve heard is for us all to behave as if we have confirmed that we have the virus, limit your movement by that much, it could save a life.
You are not on your own in this crisis, please reach out for whatever supports we can give you. We will get past this.
Best wishes from all in the Chamber
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