Temporary Wage Subsidy Scheme extended until the end of August

Jun 08, 2020

Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, recently announced the extension of the Temporary Wage Subsidy Scheme (“TWSS”) until the end of August. The scheme was originally due to run for twelve weeks from 26 March.   

Considering the challenges faced by employers in the re-opening of the economy under the Roadmap for Reopening Society and Business, the Minister said he was satisfied with the decision to continue the scheme.  

Over 58,300 employers have registered for the TWSS, allowing for the support of more than 514,700 employees. The numbers relying on the TWSS for support is expected to decline as the re-opening of the economy continues throughout the summer.  

According to the Department of Finance, continued monitoring of economic recovery will inform further decisions on the TWSS, with the Minster stressing that “this support cannot last forever”. Revenue has yet to issue guidance on the extension of the TWSS.