Simon Coveney (Cork South Central, Fine Gael)
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The Increased Cost of Business Grant (ICOB) was a measure announced as part of the Budget 2024 package. The grant will be available to Small and Medium sized businesses who operate from a rateable premises. It is intended to be paid at a rate of up to half the enterprise’s commercial rates bill, subject to a prescribed limit. The grant is intended to aid firms but is not intended to directly compensate for all increases in wages, or other costs, for every business. This is a grant and is not intended as a rates waiver or rebate. Firms should continue to pay their commercial rates as normal.

The technical details underpinning the scheme and the mechanism for delivering the payment are currently being developed. My officials will work together with officials from the Department of Housing, Local Government and Heritage will work together with the Local Authorities to finalise the details of the grant in the coming weeks.