Employers whose turnover has fallen 30% will receive a flat-rate subsidy of up to €203 per week per employee, including for seasonal staff and new employees. New firms operating in impacted sectors will also be eligible.
The Scheme is expected to support around 350,000 jobs into the beginning of 2021.
Restart Grant for Enterprises
The Restart Grant for Enterprises
is being extended to a broader base of SMEs and expanded by €300 million, bringing the total funding of the Restart Grant to €550 million.
The payment level is being increased to €25,000. Further payments may be available to firms which have already received them.
Some businesses not previously included in the scheme, such as B&Bs, will now be eligible.
Waiver of commercial rates
With limited exceptions, all businesses will be granted a waiver of commercial rates for the six months to end-September 2020, at a total cost of €600 million.
COVID-19 Credit Guarantee Scheme
The €2 billion COVID-19 Credit Guarantee Scheme
will see Government provide an 80% guarantee for a wide range of credit products from €10,000 to €1 million up to a maximum term of 6 years.
Additional resources for MicroFinance Ireland and the Local Enterprise Offices
This will include measures to reduce interest rates on lending for micro and small businesses, including grants equivalent to 0% interest on the first year of SBCI and MFI loans.
Future Growth Loan Scheme
The Future Growth Loan Scheme
is being expanded by €500 million, bringing the scheme from €300 million to €800 million with the European Investment Bank Group, so businesses with up to 499 employees can invest for the longer-term at competitive rates.
Investment in communities and jobs
A further €500 million will be provided to accelerate capital works across a wide range of areas. This will generate jobs economic activity across all regions of the country.
€75 million for minor works for primary and secondary schools
€113 million for active travel, public transport and renewal of transport infrastructure
over €40 million for investments in a range of heritage, arts, tourism and Gaeltacht-related projects
€20 million investment in courts, prisons and Garda projects, and €10 million in fishery and on-farm renewable energy investments
€15 million in peatlands rehabilitation
€100 million investment in the Energy Efficiency National Retrofit Programme
€60 million for returning vacant local authority housing to use and investment in water infrastructure
€10 million for town and village renewal
In line with the government's commitments in the New Decade New Approach agreement,
support will be provided to progress work on the harbour at Clones on the Ulster Canal, and for planning of the Sligo-Enniskillen Greenway.
The government is also committing to increasing capital expenditure in 2021 to €9.1 billion. This level of capital expenditure represents an increase of almost €1 billion or 12% on 2020 levels.