It’s after Finance Minister Michael McGrath announced that the interest rate on warehoused debts will be reduced to zero percent.
The group that represents small and medium businesses in Cork says the move won’t help ease soaring prices in stock, rent, staff wages and other increases.
Speaking to RedFM News, Cork Business Association President Kevin Herlihy says the announcement isn’t enough for small businesses
"We're asking that the debt warehousing is extended out between 12 and 24 months, we're also calling on the government to reverse the VAT from 13.5% back down to 9%. We've seen businesses closing down left, right and centre in Cork and right throughout the country in the last month, and this is a serious, serious issue"
