Niall Collins (Limerick County, Fianna Fail)
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234. To ask the Minister for Finance the status of a matter (details supplied); and if he will make a statement on the matter. [1005/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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The purpose of the Stay and Spend scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions.

Stay and Spend provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple. It commenced on 1 October 2020. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple.

The scheme is due to operate until 30 April next year but the flexibility exists for me to extend its operation in 2021 beyond that date. However, it is too early as yet to take any decisions in that regard. Much will depend on how matters unfold in the weeks and months ahead. As I have said previously, I will be monitoring the scheme, to see how it’s working and if any changes need to be made. We need to keep policies that are working, and change ones that might not be working as planned, but at all times, ensuring they are affordable.

It is important also to recall that the scheme should not be viewed in isolation from the other measures put in place to support businesses generally and the hospitality sector in particular. The VAT change; the rates waiver; the extension of the wage support scheme until next year and its extension to new or seasonal staff; and other Government measures all play a part in helping the sector cope with the challenges it faces.