The Government has worked to support businesses through these challenging times with a wide range of measures for firms of all sizes, which included the wage subsidy scheme, business continuity and trading online grants, COVID-19 Working Capital Scheme, the COVID-19 Credit Guarantee Scheme, the Future Growth Loan Scheme, commercial rates waivers and warehousing of tax liabilities. Details of the supports can be found on my Department’s website: Government supports for COVID-19 impacted businesses - DETE (enterprise.gov.ie).
The Employment Wage Subsidy Scheme (EWSS) provides a subsidy to qualifying employers based on the numbers of paid and eligible employees on the employer’s payroll and charges a reduced rate of employer PRSI of 0.5% on wages paid which are eligible for the subsidy payment.
The EWSS has been a key element of the Government’s response to the continued Covid-19 crisis to support viable firms and encourage employment and it is widely recognised that the EWSS has played an essential role in supporting businesses, encouraging employment and helping to maintain the link between employers and employees during this pandemic.
Government policy has been that there will be no cliff edge to the support, at the same time, it is necessary to unwind and phase out this temporary, emergency support measure. On Budget Day of last year, an extension of EWSS in a graduated form until 30 April 2022 was announced, ensuring there will be no sudden end to the EWSS.
It is important to note that all business supports are being kept under review to ensure that they are timely and target those that need them the most. I would urge businesses to make sure that they are aware of what is available to them and apply for the appropriate schemes.
