No “abrupt end” for the TWSS

Jul 06, 2020

Minister for Finance, Paschal Donohoe T.D., said that the Temporary Wage Subsidy Scheme (TWSS) will not come to “an abrupt end” on RTÉ’s Morning Ireland last Friday.

The Minister indicated that a further decision on the TWSS will be made in July. He furthered that the Budget in October provides another opportunity to consider the TWSS and other tax measures.

He described the TWSS as “perhaps the most significant and radical and successful cash injection scheme that has ever been brought in”, emphasising the value of the TWSS and the Pandemic Unemployment Payment as being strongly recognised by the Government.

The Minister also discussed that the February reference point in the TWSS was something that was now being reconsidered, but was keen to stress “ one of the reasons why we now have the deficit of at least €23 billion, is because of the amount of income and cash we’re putting into our economy”.

Listen to the discussion extract on RTÉ’s Morning Ireland podcast.