July Economic Stimulus Plan 2020

Businesses

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.

Employment

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.

Community

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.