Minister for Finance and Public Expenditure and Reform, Paschal Donohoe TD, has today (Thursday) encouraged employers whose businesses have been impacted by the COVID-19 public health crisis to engage with the Temporary COVID-19 Wage Subsidy Scheme as the most effective way of retaining the link with employees, who can then resume employment once the crisis has passed. The Minister said this will give our economy, and society, the greatest chance of rebounding when the time comes.
Minister Donohoe made this statement on the back of encouraging registration figures for the scheme, which, as of 8pm last night (Wednesday), saw 35,830 employers registered with Revenue for the Wage Subsidy Scheme. This is up 10,106 since 8pm on Monday.
The COVID-19 Wage Subsidy Scheme has been made available by Government to give companies the best chance of survival through the retention of valuable staff. It will also put them in the strongest position to re-open or reboot the business without delay in the months ahead.
Minister Donohoe said: ‘I am encouraged by the uptake of the COVID-19 Wage Subsidy Scheme. I would ask employers who have not yet considered the scheme to do so today. It is important to note that those who have already laid off workers can still avail of the Scheme by re-employing them now. Those employers who have cash in reserve, and who have been hit by a decline in business, can also still qualify for the scheme. And finally, applying for the scheme is not a declaration of insolvency, as some have suggested. These points have been clarified by the Revenue Commissioner but are worth restating.
“As I have said previously, the public health crisis is our first priority. Securing our economy and the livelihoods of our people comes next. In the interest of attempting to do what we can now to strengthen our position in the future, I would ask employers to give serious consideration to this available support.”