The Government announced a package of supports called the July Jobs Stimulus on 23 July 2020. The key provisions of the package include:
- The COVID-19 Pandemic Unemployment Payment will be extended to April 2021 and closed to new applications from 17 September 2020. From 17 September 2020, there will be three rates of payment:
|For people who previously earned less than €200 per week
|For people who previously earned between €200 and €300 per week
|For people who previously earned over €300 per week
You can read more about the social protection and employment support provisions in the press release from DEASP and on gov.ie.
- A new Employment Wage Support Scheme will succeed the Temporary Wage Subsidy Scheme, and run until April 2021. Employers and new firms in sectors impacted by COVID-19 whose turnover has fallen 30% will get a flat-rate subsidy of up to €203 per week per employee, including seasonal staff and new employees.
- A range of supports for business were announced. With limited exceptions, the waiver of commercial rates will be extended until the end of September and the COVID-19 Credit Guarantee Scheme will provide an 80% guarantee for a wide range of credit products from €10,000 to €1 million up to a maximum term of 6 years. Small and micro companies will be supported through additional resources for MicroFinance Ireland and the Local Enterprise Offices. This will include measures to reduce interest rates on lending for micro and small businesses, including grants equivalent to 0% interest on the first year of SBCI and MFI loans. The Future Growth Loan Scheme is being expanded.
- The standard rate of VAT will be reduced from 23% to 21%, effective from the beginning of September for 6 months.
- A new Stay and Spend Incentive will refund taxpayer spending on accommodation, food and non-alcoholic drinks, between October 2020 and April 2021, through a tax rebate of up to €125.
- Enhanced levels of support will be made available under the Help to Buy scheme until December 2020.
- An increased allowable expenditure under the Cycle to Work scheme from €1,000 to €1,500 for ebikes, and €1,250 for other bicycles will be introduced.
You can get full details of the July Jobs Stimulus on gov.ie.