Minister for Finance Paschal Donoghoe has announced increases to the Covid-19 Temporary Wage Subsidy Scheme.
He revealed that for incomes less than €24,400 a year, the State will be increasing the subsidy available to employers from 70% to 85%.
Paschal Donohoe has today announced increases to the wage subsidy scheme
Employees earning between €412 a week and €500 a week will have a subsidy €350 per week.
Minister Donohoe said: “The Temporary Wage Subsidy Scheme was designed and introduced with great speed.
“This was done to ensure the greatest number of employees maintained the link with their employee during this difficult time.
“It stood to reason that there were anomalies that needed to be ironed out to ensure greater fairness and implementation of the scheme.
“The whole world is facing a time of unprecedented difficulty.
“Here in Ireland, we are working hard to ensure the impact and fallout from what is happening is minimised for our people to the greatest extent possible.
“Today’s measures serve to reinforce that message and to offer additional comfort to employer and employees in the period ahead’.”
There are no changes in respect of those whose previous average net pay was between €500 and €586, who will continue to receive a subsidy of up to 70% of previous net income, up to a maximum of €410 per week.
The maximum subsidy payable for those earners remains €350 per week.
Mr Donohoe also said the wage subsidy is now available to support employees where the average net pre-Covid salary was greater than €76,000, and their gross post-Covid salary has fallen below €76,000.
Tags: