Whatever new government is formed, it should consider a coalition of public and private thought that will absorb the lessons of this extraordinary period to inform how we might better organise ourselves for the future.
Having covered the macro requirements and solutions for a sustainable global recovery in Part 1 of this series, today Ross Hunt outlines the role start ups can play, mistakes we are already making and how to avoid them, before specifically addressing the Irish stimulus response.
In part one of this two-part series, Ross Hunt makes a case for a strong environmental component in the stimulus packages required to recover from the global Covid-19 crisis. He believes normal market rules will not work because we must solve multiple problems beyond the pandemic – and we are running out of time.
The Currency was first to report on the overvaluation of the north-western agribusiness’s sports nutrition subsidiary My Goodness, and annual accounts have now confirmed an asset write-down. But there is much more to the co-op – and other options to sustain it into the future.
We sacrificed tax to lure multinationals. We need similar thinking to help our SMEs in a time of crisis. The first step should be a new deal on rents, which would allow cash strapped companies to survive.
If the Irish banking system refinanced its mortgage book, it could then pass on significant savings to Irish mortgage holders. This would offer significant stimulus to the economy of around €200 per month for the average Irish mortgage holder.