COVID-19 - Government Announces July Stimulus Plan
23rd July 2020Follow @MABSinfo
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The Government has announced their July Jobs Stimulus plan to get people back to work, create new jobs and stimulate the economy.
Fifty measures were announced, so we've pulled together the most relevant measures to give you a sense of what these measures will mean to you. Read on to see what measures affect you.
Pandemic Unemployment Payment will be extended and gradually reduced to finish in April 2021
From 17 September 2020, the rate of COVID-19 Pandemic Unemployment Payment will be reduced to €300 per week. There will be three rates instead of the current two, linked to the person's previous earnings.
The scheme will close to new applicants on 17th September too.
You can read more on our page on Pandemic Unemployment Payments.
Employment Wage Subsidy Scheme will replace the Temporary Wage Subsidy Scheme and run to April 2021
Employers whose turnover has fallen 30% will receive a flat-rate subsidy of up to €203 per week per employee, including for seasonal staff and new employees. New firms operating in impacted sectors will also be eligible.
The Scheme is expected to support around 350,000 jobs into the beginning of 2021.
'Stay and Spend' Incentive
To encourage people to support local restaurants and hotels, or "staycation" spends over €625 on accommodation, food and non-alcoholic drinks to reclaim €125 per taxpayer through a tax rebate at the end of 2020. Those paying USC and Income Tax are eligible for this rebate.
35,000 places in Further and Higher Education
These will be delivered through a variety of measures including Skills to Compete Initiative (SOLAS), Skillnet, Springboard+ and the Human Capital Initiative, as well as through additional undergraduate and postgraduate provision in the Higher Educational Institutions
The Back to Work Enterprise Allowance and Back to Education Allowance will be extended to people currently in receipt of the Pandemic Unemployment Payment.
The existing Restart Grant will be extended and expanded
The Restart Grant for Enterprises is being extended to a broader base of SMEs and expanded by €300 million, bringing the total funding of the Restart Grant to €550 million.
The payment level is being increased to €25,000. Further payments may be available to firms which have already received them.
Some businesses not previously included in the scheme, such as B&Bs, will now be eligible.
You can read more about SME Supports on our page.
You can contact your local MABS office , chat through our live chat or call the MABS Helpline on 0761 07 2000, Monday to Friday, from 9am to 8pm or you can check the MABS News Feed for further updates and guidance.