July Economic Stimulus Plan 2020
The measures launched in the July Stimulus Plan include:
- A new Employment Wage Support Scheme will succeed the Temporary Wage Subsidy Scheme and run until April 2021.
- 0% interest for first year of SME loans.
- Restart Grant for Enterprises is being extended and expanded.
- The waiver of commercial rates is extended until end-September 2020.
- A €2 billion Covid-19 Credit Guarantee Scheme.
- Other business finance measures, including supports for start-ups.
- Extension of the Pandemic Unemployment Payment (PUP) to 1st April 2021.
- €200 million investment in training, skills development, work placement schemes, recruitment subsidies and job search and assistance measures.
- 35,000 extra places will be provided in further and higher education.
- Further supports for apprenticeships.
- Financial certainty through the Enterprise Wage Support Scheme, the Pandemic Unemployment Scheme, Rates waivers etc.
- €500 million investment in communities.
- Investment in schools, walking, cycling, public transport, home retrofitting and town & village renewal.
- Tax measures including a temporary reduction in the standard rate of VAT.
- Stay and Spend initiative.
- Targeted measures for most vulnerable sectors.
Preparing Ireland for the Economy of the Future
- €25 million investment in Life Sciences.
- Training and Skills Development.
- €10 million to be provided under a New Green Enterprise Fund.
- Increase in Seed and Venture Capital for innovation driving enterprises.
- Additional supports for IDA promotional and marketing initiatives targeting jobs.
- Additional supports to businesses to develop their online presence.
- €20 million Brexit fund to help SMEs to prepare for new customs arrangements.
- Expansion of Sustaining Enterprise Fund scheme.