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Government's July Stimulus Package To Be Launched Today

Thursday, 23 July 2020 07:19

It includes €125 being reimbursed for every €600 spend on holiday.

The government will launch a new stay-and-spend initiative to boost tourism as part of the July stimulus package today.

Holidaymakers will get €125 euro back on roughly €600 spent on accommodation and food bills.

As part of a new stay-and-spend programme people will get money back for holidaying in Ireland in the form of a tax credit or rebate.

It's the way the government has decided to proceed with supports for the tourism sector.

The July stimulus will be launched this afternoon following a cabinet meeting in Dublin Castle.

It's expected both the Pandemic Unemployment Payment and the Temporary Wage Subsidy scheme will be extended until April next year.

The unemployment payment will be reduced in September to €300 a week, and further evaluated early next year.

While the structure of the wage subsidy scheme is likely to be changed and reduced over time as well.

The stimulus package is expected to be in excess of €7 billion and will include funding for most departments.

It's likely to include significant funds for the retrofitting of schools, colleges and hospitals to allow them to re-open with social distancing guidelines.

There will also be significant business supports in the form of increased re-start grants and access to low cost loans through the credit guarantee scheme.

Minister of State for Trade and Longford-Westmeath TD, Robert Troy, confirms the PUP won't end at next month's deadline. 

Minister Troy says it will give welcome certainty to businesspeople:

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