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July Jobs Stimulus

Following today’s Cabinet Meeting, the Government has announced a July Stimulus in response to the impact that COVID-19 has made in our country.

The package of €5 Billion includes among other measures:

➡️ €10 million in Fishery and On-farm renewable energy investments

➡️ A 2% cut in VAT from 23 to 21% for a 6 month period

➡️ €100 million package of employment supports to deliver 47,500 training and apprenticeship places

➡️ €450 million package of business supports

➡️ Temporary Wage Scheme will be replaced by the Employment Wage Subsidy Scheme from 1 September until 31 March 2021

➡️ Certain category of workers previously excluded from TWSS including seasonal workers will be eligible

➡️ There will be a grant for self-employed who did not qualify for Business Restart Grants

➡️ Stay and Spend Incentive will allow for a rebate of €125 per person on a hotel spend if €625 – eligible facilities must be registered with Failte Ireland.

➡️ First time buyers will receive assistance to stimulate demand – current limit of 5% is being increased to 10% or €30,000

➡️ €250 million Restart Grant will see the payment level rise to €25,000 – some businesses previously excluded such as B&Bs are now eligible.

➡️ Commercial Rates waiver to end of September 2020

➡️ €500 million Capital Works across a range of areas including €75m for minor works in our primary and secondary schools; €113m for active travel, public transport and renewal of transport Infrastructure; €100m investment in the Energy Efficiency National Retrofit Programme; €60m for returning vacant local authority housing to use and investment in water infrastructure; €10m for Town and Village Renewal.

➡️ €2 billion Credit Guarantee Scheme

Please visit July Job Stimulus for full details of the Stimulus.

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