Minister for Finance, Paschal Donohoe TD, restates a commitment to no cliff-edge ending of the Employment Wage Subsidy Scheme (EWSS) and other pandemic supports as the Dáil approved draft Regulations providing for the extension of the EWSS and Covid Restriction Support Scheme (CRSS) to the end of June.
In his opening statement, the Minister noted that “Supports will continue for as long as is necessary to ensure a strong recovery.” While the cost of the pandemic support schemes are significant, the Minister considers that schemes must continue to ensure success in “the final hurdle” of the fight against the pandemic and the resulting economic fallout.
The Temporary Wage Subsidy Scheme (TWSS) cost almost €3 billion; the EWSS has cost €2.8 billion with almost half a billion in PRSI foregone; the CRSS is approaching €0.5 billion, and €2.3 billion of tax debt has been warehoused. This gives a total of €9 billion in supports for businesses under the aegis of my Department alone.
In addition, €6.5 billion has been paid by the Department of Social Protection under the PUP.
The motions put before the Dáil are required as part of the process of extending the schemes under section 484(2)(a)(ii) TCA 1997 for the CRSS, and section 28B(21) of the Emergency Measures in the Public Interest (Covid-19) Act 2020.
The draft Taxes Consolidation Act 1997 (Covid Restrictions Support Scheme) (Date Adjustment) Order 2021 provides for this extension and was laid before the Dáil on 8 April.
The draft Emergency Measures in the Public Interest (Covid-19) Act 2020 (Covid-19: Employment Wage Subsidy Scheme) (Date Adjustment) (No. 2) Order 2021 provides for this extension and was laid before the Dáil, also on 8 April.
The Dáil debate on the motions is available through Oireachtas.ie.
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