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July Economic Stimulus Plan 2020

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.

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