The outstanding debt owned by businesses that availed of Revenue’s debt warehousing scheme stood at €1.58 billion this week, according to the tax commissioners in their annual report for 2023.

The scheme was introduced to assist businesses that experienced cash-flow and trading difficulties during the Covid-19 pandemic.

It was announced earlier this year that the 3% interest rate that was to apply to outstanding debt from this year would be reduced to zero.

However, companies with an…