Minister Donohoe announces targeted support for the hospitality sector

The Minister for Finance, Paschal Donohoe TD has today (Friday) announced targeted support for the hospitality sector in response to the further public health restrictions imposed on the sector to reduce the spread of Covid-19.

The targeted scheme will be modelled on the Covid Restrictions Support Scheme which operated effectively in the earlier phases of the pandemic when businesses were most heavily impacted by public health restrictions.

The scheme will provide targeted and timely support to the hospitality sector to supplement the support they are receiving under the Employment Wage Subsidy Scheme.

A weekly payment will be made to qualifying businesses in the sector whose trade is significantly impacted due to the restrictions set out in Health Regulations. Businesses who expect their turnover to be below half of what it was in 2019 will quality for this additional support.

The payment will amount to 12% of their turnover for the same week in 2019 up to a maximum weekly payment of €5,000.

Speaking this evening, Minister Donohoe said:

“My officials are working with the Revenue Commissioners to develop this scheme and it is expected to be open for applications by next week with payments commencing shortly afterwards.

The Government recognises the severe impact Covid19 has had for many sectors across our economy, not least the hospitality sector. We have not been found wanting from the onset of this terrible disease, and to date, the Government has provided over €48 billion supporting both our economy and society.

A further deterioration in the public health situation would impact our economic recovery, and as the Government has said consistently throughout this pandemic, there will be no cliff-edge to supports for citizens and businesses. We will keep these supports under review.”

ENDS