The importance of our Government’s financial support package for sport can be given real context this morning as we look at the Winter Sport package offered by the British Government across the water.
Our short term rescue package amounted to €85 million in cash and was delivered in two tranches having first been announced in the summer months when confidence was in need of the greatest boost.
The British Department of Culture, Media and Sport have just announced a Sports Winter survival package of £300 Million made up largely of loans.
Yes, this is on top of a £220 million pledge to grassroots football in April and a £100 million package of loans for coub=nil run leisure centres but in the context of confidence and population, the Irish Government can stand proud.
The population of Britain is 66.5 million versus that of the Republic of Ireland which is 4.9 million.
That is a factor of 13.6. A comparison in financial terms than would suggest that our €85 million package of support should have equated to €1.1 billion over there.
Instead, on this morning exchange rate, the figure is closer to €694 million. Well done Ireland.
What’s more, the Irish funding was investment of cash rather than loans, no matter how low an interest rate.
The British Culture Minister said that “Britain is a sports powerhouse, and this Government will do everything we can to help our precious sports and clubs make it through covid.”
We may not have quite such high notions but when it comes to survival we seem a little better positioned.
Sport for Business Partners