An initial three-month waiver of rates for businesses forced to close business due to COVID-19, was announced in May 2020. In recognition of the fact that not only were many ratepayers forced to close business due to the public health requirements, but also many that remained open suffered significant reductions in turnover, the waiver was extended from three to six months until 27 September 2020. A 100% waiver was applied to all businesses with the exception of a small number of categories, mainly banks, utilities, large supermarkets and corporates. The rationale for the exclusion of certain categories of ratepayers is that their operations are not as severely impacted by the pandemic, coupled with the need to direct resources appropriately. 600m euro was allocated by Government to fund the cost of the six-month waiver, which takes the form of a credit in lieu of rates.