Oireachtas Joint and Select Committees

Wednesday, 19 January 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Covid-19 Payments and the Sale of AIB shares: Minister for Finance

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I do not anticipate that we will revise the 30% guidance in a way that makes it easier for companies to move onto the scheme. I will impart a key message regarding the future of these schemes across 2022: as public health regulations allow and as we get to a point where our economy is able to normalise and businesses are able to have more normal trading conditions for longer, the Government will have to decide how to conclude these schemes, not how to continue them. I will give the committee a sense of scale. In December alone, the EWSS was in excess of €400 million, the direct employer payment part of it was just over €372 million and the PRSI forgone element was €54 million. In December, the EWSS received €426 million in taxpayer funding. That money was needed and had a positive impact. While we do not want anyone to have to move on to the pandemic unemployment payment, PUP, and we hope that people can stay in work, the Senator will be aware that the number of people who moved onto it was lower than we expected, which shows the value of the EWSS. As opposed to thinking about how more employers can get onto it, though, we will have to move towards continuing the conclusion of the programme at the right time and when the public health regulations allow, just as the Government has tried to do with the PUP.

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