1st June 2021
Economic Recovery Plan Key Announcements
At the launch of the Government’s Economic Recovery Plan today (June 01, 2021), Taoiseach Micheál Martin said, “There is enormous damage to be undone, as a result of the pandemic”,
The new plan includes over €3.5bn in spending supports, with €915 million of that coming from the EU’s recovery fund. All of which is intended to help kick start a jobs-led economy.
Minister for Finance, Paschal Donohoe, and Minister for Public Expenditure and Reform, Michael McGrath, indicated that the cost of the National Economic Recovery Plan will add upwards of €3 billion to the budget deficit this year.
Key Announcements:
- EWSS wage supports will be extended until the end of the year.
- Businesses may apply for enhanced reopening payments.
- Covid Restrictions Support Scheme (CRSS) is being extended until the end of 2021 with an enhanced restart payment of three weeks at a double rate.
- A new business resumption support scheme will be introduced in September.
- The commercial rates waiver is being extended for a further three months.
- The 9% VAT rate for the tourism sector will continue until September 2022.
- The Pandemic Unemployment Payment (PUP) will continue at its current level until September, when gradual reductions will begin.
- Owners of new homes built since 2013 will now have to pay property tax as part of a new Economic Recovery Plan
- There will be a loan scheme for retrofitting and insulating houses.
- 50,000 new jobs training places are to be introduced.
