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Redundancy Payments

Dáil Éireann Debate, Thursday - 23 September 2021

Thursday, 23 September 2021

Questions (193)

Louise O'Reilly

Question:

193. Deputy Louise O'Reilly asked the Tánaiste and Minister for Enterprise, Trade and Employment the way the redundancy loan scheme for businesses announced during summer 2021 will operate; and if he will make a statement on the matter. [45856/21]

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Written answers

In situations where employers are genuinely unable to meet their financial obligations in paying statutory redundancy to their employees, the State can fund statutory redundancy payments from the Social Insurance Fund (SIF) on their behalf.

In such situations and in order to support employers, a flexible and discretionary approach will be taken in relation to recovery of the redundancy debt. The Department of Social Protection will engage with employers directly and each case is assessed on its own merits. A mutually agreed repayment plan can be put in place, including repayments by instalment to ensure financial hardship is minimised. In many cases the debt can be repaid over a number of years.

During 2020 and 2021, €38 billion has been provided for COVID-19 related supports for businesses. These have been vital in sustaining workers and businesses through the various levels of restrictions. The Economic Recovery Plan sets out the Government’s intention to invest in businesses and workers; help people get back into work, training, or education; provide enhanced and more targeted support for sectors that may lag behind and invest in infrastructure and reforms that enhance our capability and long-term capacity for growth.

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