The IoD welcomes the swift response that the Policy & Resources Committee made regarding the question of the support recovery clause for payroll co-funding. A number of our members had voiced their need to take up payroll co-funding to help protect jobs without potential profits being penalised.
The IoD equally understands the need for accountability, which is a cornerstone of good governance, and the Policy & Resource Committee is rightly trying to balance support for business with protection of public funds at such a critical time for the island’s economy.
We understand that the Policy & Resources Committee is keeping the business support measures under review, which we would encourage given the fast-moving nature of the situation. We will continue to engage with the Committee to represent our members’ views and lend support as appropriate over what is, for many, a challenging time for the business community.