Sinn Féin spokesperson on Enterprise, Trade and Employment Louise O’Reilly has said the government’s July Stimulus package will not deliver for business.

Speaking this evening, Teachta O’Reilly said: “We have been waiting weeks for the government’s July Stimulus package, and now that is has been announced, it is deeply disappointing for SMEs.

“The announcements for businesses are a total let-down. This is not the stimulus that was promised or needed.

“Businesses are struggling to get back up and running. They have been calling out for liquidity injections through grants.

“Instead of a comprehensive and funded grant scheme, businesses are instead being asked to take on more debt through loans – something they cannot do. 

“This July Stimulus package has a 4:1 debt to grant ratio. This flies in the face of what the government has been advocating for in Europe.

“The Taoiseach, Micheál Martin, spent all last weekend preaching about the need for grants in Brussels. But his government has pushed debt, through loans, for SMEs at home.

“Businesses were calling out for an economic life buoy, and the government has thrown them an anchor.”