The government’s promising its new wage subsidy scheme will save more jobs for longer.
The subsidy, which has so far cost the state over 2.7 billion euro, will now be available until March 2021.
Employers must re-register for the revamped supports, which replace the Temporary Wage Subsidy Scheme, introduced due to Covid-19 in March.
Income tax, USC and PRSI will be taken from source, compared to the current scheme, which sees taxes collected at a later point.
Finance Minister Paschal Donohoe says he had to act before the impact of Brexit:
He said “In advance of the consequences of brexit becoming clearer to us in November, December or January of next year, this is the kind of decision that would be taken on budget day, but my view was that if we had waited till the middle of October, the months of August, September and October could even be more difficult that they are for many employees and companies at the moment”.
