janvier 24, 2022

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Michael Healy-Rae Turns Profits While Receiving Covid Support

A company linked to a gas station and convenience store owned by Kerry TD Michael Healy-Rae and his wife Eileen made a profit of more than €70,000 while benefiting from government coronavirus support totaling €122,300.

Black Cap & Company Ltd’s financial statements also showed that Healy-Raes – who are the company’s managers – earned more than €100,000 in the past two years, a report in the Sunday Times revealed.

The company was listed on revenue as a beneficiary of the Employment Wage Support System (EWSS) at various times during 2020 and 2021.

Black Cap & Company’s financial statements for the year ending April 30, 2021 show « government grants » totaling €122,300 over two years. It shows a profit for that financial year of €71,571 and €5,938 for the year 2020.

Mr Healy-Rae and his wife’s wages were €45,032 in 2020 and €56,255 in 2021.

The company operates out of a building owned by Mr. Healy-Rae and was paid €12,000 to use the building.

The Revenue website lists Black Cap & Company as EWSS recipients in 2020, and it was also listed in the first quarter of 2021. It is not included in the second and third quarters of this year and the fourth-quarter list has not yet been published.

Another of Mr. Healy-Rae’s companies – Roughty Plant Hire Ltd – has received EWSS support although it has not yet provided accounts for 2021.

Business

The plant rental company owned by Danny Healy Ray…

Businesses have had to show a reduction in turnover of at least 30 percent to take advantage of payments under the scheme introduced to support businesses during the pandemic.

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Hailey Ray has not responded to requests for comment before Irish Times.

The case for profitable EWSS-backed businesses came to prominence earlier this month after The Irish Times revealed that O’Flaherty Holdings – which distributes Mercedes-Benz in Ireland – claimed nearly €1.8m in wage support last year and separately paid a similar amount. in dividends to an offshore company.

Commenting on the case in Dáil, Tánaiste Leo Varadkar said that companies that have posted « big profits » or are in a position to pay « big profits » should return the money they received under the EWSS.