What should we expect from the July stimulus package?
THE NEWLY INSTALLED AND ALREADY EMBATTLED GOVERNMENT IS DUE TO ANNOUNCE A PACKAGE OF ECONOMIC MEASURES NEXT WEEK TO KICK-START THE ECONOMY AS THE COUNTRY EMERGES FROM LOCKDOWN. SPOKE TO THREE PROMINENT LOCAL PEOPLE ABOUT WHAT IS NEEDED IN NORTH AND MID CO
A STIMULUS package in July would have been welcomed in north and mid Cork had there never been a COVID-19 pandemic, but the outbreak of the virus has made the need for measures to stir the dormant local economy back to life.
Money to get businesses back up and running is what firms really need now according to Millstreet’s Áine Collins, the former Fine Gael TD for Cork North West and now a financial consultant for small- and medium-sized enterprises.
“It’s really all about liquidity now,” said Áine, pointing out that the credit support scheme announced this week was a good start, though she wasn’t sure how the banks would accommodate requests from businesses if they had to carry some of the risk themselves.
The guarantee scheme means that the Government will stand for 80 per cent of the borrowing to a company which meets the criteria for a loan – with the remainder of the risk, 20 per cent, carried by the bank. The exact terms are being worked out this week with the possibility that these will include payment holidays, allowing companies not pay back any money for between six months and a year.
In Áine’s view, support for small- and medium-sized enterprises needs to be delivered directly and without a great deal of bureaucracy.
“The COVID-19 unemployment worked well because it was clean and quick,” she said.
“There are sectors struggling out there – food, hospitality and tourism in particular – and they need help immediately.”
Another issue Áine has identified as crucial to ensuring that rural areas emerge from the lock-down and continue to develop is the speedy provision of quick and effective broadband services.
“People want to relocate to rural Ireland – this is essential to help them do this and stay in rural areas.”
She said Local Enterprise Offices and Enterprise Ireland had been very effective supporting local businesses during the lockdown. She added that a significant investment in Millstreet, providing for the installation of awnings near the local church and in the town square, would enable locals to sit out under shelter and socialise – while observing protocols to prevent the spread of the virus. As far as Áine is concerned, this investment of up to €40,000, which came via the local Community Council, will be a significant boost to the Duhallow gateway town.
Fianna Fáil councillor Bernard Moynihan in Kiskeam is pleased that, in advance of the announcement of the stimulus package, a consultation process on remote working has been announced.
An advocate of the benefits of remote working in rural areas, Cllr Moynihan thinks this could be a game changer for rural areas in north Cork, which have been devastated by ongoing cuts to services and amenities.
“Pubs closed down during the lock-down to help stop the spread of the virus, and I know of pubs that won’t be reopening again,” he said.
He wants the REPS 2 support programme for farmers, as promised in the Programme for Government, implemented quickly in order to put money in the pockets of farmers.
“Farmers are vital in terms of the local economy – they will spend their money locally, in local co-ops and hardware stores.”
The closure of more pubs following the closing of other local services in rural areas has had a huge impact on morale in rural areas, and this has been exacerbated during the lock-down.
“This is going to have a huge impact on mental health – communities won’t be able to celebrate or mourn as they should.”
Becky Kealy of Kanturk, the Aontú candidate in the General Election, wants the stimulus package to recognise that there is an Ireland outside the M50:
“The stimulus package needs to focus on equally address creating jobs, supporting households, and bolstering SMEs.
“The knock-on effect from the loss of jobs, the closure of businesses, the loss of income, and the struggling of households has left many areas across the country – particularly my own constituency – crying out for much-needed support from the government, to stave off the darker days of the Recession returning,” she said. “In terms of jobs, what we need to see, particularly for areas like Cork, is significant financial supports and incentives to allow for remote working and building of IT hubs. Remote working will stop the population exodus and brain drain to Dublin and bolster local businesses as people stay in the county. Additionally, the government needs to support the likes of Shannon Airport, and invest in broadband and infrastructure to allow Cork to compete for jobs with Dublin and in turn boosting local businesses.
“To prevent further devastation and job losses in the Tourism sector, the government should issue vouchers for “Staycations”, which will be a vital source of income for our tourism and local businesses.”
A NUMBER of North Cork groups are among those who are to benefit from Creative Ireland funding allocations, Fine Gael Councillor John Paul O’Shea has said.
This initiative is being delivered through a number of different mechanisms, in keeping with the National Creative Ireland Programme and tailored at local level, through the delivery of County Cork’s community inspired Culture and Creativity Strategy.
Thestatedaimofthestrategyisthat it seeks to put culture and creativity at the heart of communities, and the Creative Ireland County Cork Grant Scheme is described as one of the key mechanismsfordeliveringoncultural engagement within the county.
Among the projects funded under theCreativeIrelandCountyCorkGrant Scheme for 2020 throughout North Cork is the ‘40 Days and 40 Nights’ audio artwork project by Ian Wilson. This project receives €2,500 under the allocation.
Ballyhoura Community Development CLG’s ‘Charleville – My community through sound initiative’ will receive € 1,000, while Charleville HeritageSociety’s‘Boylefamilyhistory trail’ project received €500.
Cork Craft and Design’s Cork Craft Month received €1,000, while Cork’s Life FM’s ‘Word Power Series’ was allocated €2,000.
Eamon Lankford’s re-publication of 1980’s ‘The hope and the sadness’ by Siobhan Lankford (1980) received €1,000, while Irish Language Group Dromina will receive €500 for Irishlanguage workshops and signage.
Cllr O’Shea welcoming the funding for these organisations.
“CreativeIrelandisourIreland,” he said. “It is the Ireland we value and the Ireland we want to pass on to the next generation.
“Implementation of the Creative IrelandCountyCorkInitiativeisfurther enhancing growth and awareness of cultural services and activities within theCounty, benefitingeconomic, social and community development.
“Furthermore, it is supporting more and more communities as they fully embrace, look after, promote and creatively express the culture they hold dear.
“Iwanttowishalltheorganisations wellinthesuccessfuldeliveryofthese projects over the coming months.
“These projects supported by the scheme truly demonstrate the enthusiasm, commitment and dedication within the County of Cork by people from all different groups and communities, in supporting and promoting the wonderful culture that exists,” Cllr O’Shea added
“The Creative Ireland Programme has been warmly welcomed here in County Cork, and these projects will enhance the cultural offering of the County even further.”