July Stimulus Package


See summary below. We have also updated our summary of available finance and income supports.

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  • a new Employment Wage Support Scheme will succeed the Temporary Wage Subsidy Scheme, and run until April 2021
  • 0% interest for first year of SME loans
  • Restart Grant(Rates rebate) for businesses is being extended and expanded
  • Maximum Help-to-Buy relief for home buyers rises by €10,000 to €30,000.
  • Interest rates on tax debts to fall to 3 per cent.
  • Bike-to-work scheme extended, including €1,500 limit on ebikes.
  • Businesses to get €2,000 for each extra apprentice they take on, plus a two-year €7,500 JobsPlus subsidy to hire under-30s who are currently unemployed, or on PUP.
  • A €25 million fund for arts and culture
  • €500million budget for smaller “shovel ready” capital projects, such as schools.
  • €100 million energy retrofitting budget, plus €60 million to refurbish vacant local authority houses.
  • the waiver of commercial rates extended until end-September 2020
  • a €2 billion COVID-19 Credit Guarantee Scheme
  • extension of the Pandemic Unemployment Payment (PUP) to 1 April 2021
  • €200 million investment in training, skills development, work placement schemes, recruitment subsidies, and job search and assistance measures
  • 35,000 extra places will be provided in further and higher education.
  • temporary reduction in the standard rate of VAT from 23% to 21%
  • Stay and Spend initiative of a staycation” tax voucher worth €125 to encourage off-season holidays in Ireland.

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Joe Cunnane Practice Owner TRA Professional Services       Qualifications:  FCA Chartered Accountant & AITI Chartered Tax Advisor Joe has over 20 years experience working in both private practice and industry ... Read More »