Dáil Éireann Debate, Tuesday - 10 November 2020
91. Deputy Mick Barry asked the Tánaiste and Minister for Enterprise, Trade and Employment the measures in place to ensure that companies availing of Covid-19 subsidies and schemes are using the funds to protect the income and rights of their employees; and if he will make a statement on the matter. [35071/20]
View answerThe level of support now being provided to businesses to remain viable and sustain employment across all sectors is unprecedented. I am satisfied that we have an appropriate mix of supports in place to support workers and businesses in moving to Level 5, in particular, so businesses can reopen and restore employment as we suppress the virus.
Under Enterprise Ireland's Sustaining Enterprise Fund, for example, all funding is subject to the submission of a sustaining enterprise plan including targets for sustaining and growing employment.
The Pandemic Unemployment Payment includes an increase in the top rate to €350 for those who were earning in excess of €400 per week. The Employment Wage Subsidy Scheme is also being aligned with this amendment, with the top payment increasing to €350 for those earning over €400.
The Covid Restrictions Support Scheme (CRSS), available through Revenue offers assistance to businesses forced to close or trade at significantly reduced levels due to COVID - 19 of up to €5,000 per week.
We are also providing more and cheaper loan finance through MicroFinance Ireland, SBCI and the new €2bn Credit Guarantee Scheme.
There is a six-month reduction in VAT, down from 23% to 21%, and reduction in the 13.5% rate to 9%, together with a range of additional public capital investment measures to support the domestic economy.
