Thursday, 3 June 2021
Department of Enterprise, Trade and Employment
The newly published Economic Recovery Plan sets out the roadmap for business supports over the coming months.
The Government was clear that there would be no cliff edge to this assistance and that businesses would be given as much certainty about the levels of help which will be available in the future as this pandemic allows.
The Economic Recovery Plan provides this certainty and a clear pathway for the labour market and enterprise towards new opportunities as more and more of the economy re-opens.
The Plan includes in excess of €3.5 billion in further labour market and enterprise aids and just under €1 billion additional funding under the National Recovery and Resilience Plan (NRRP).
The confirmation that the Employee Wage Subsidy Scheme (EWSS) will continue until the end of the year provides certainty to businesses as they resume activity, similarly, a range of short term measures provide businesses with confidence of the Government’s continuing help.
These include the extension of the Covid-19 Restrictions Support Scheme (CRSS) and enhancements to re-start payments; the extension of the Commercial Rates Waiver until the end of September 2021; the provision of a new additional Business Resumption Support Scheme; a further extension of Tax Debt Warehousing until the end of 2021; and an extension of the 9% tourism VAT rate until September 2022.
In the longer term, the Plan aims to have 2.5 million people in work by 2024, these jobs will be more productive, innovative, resilient and in new areas of opportunity, aligned with the Government’s green and digital ambitions.
That ambition will be achieved through significant investment, with our National Recovery and Resilience Plan (NRRP), revised National Development Plan, and Brexit Adjustment Reserve.
The proposals in the ERP, which include the extension of existing schemes for businesses, will help both businesses and employees recover from the impact of the pandemic by enabling businesses to grow again and reverse the losses in employment suffered over recent months.