July Stimulus Package

Heralded as the largest ever injection of cash into the Irish economy, the July stimulus package was unveiled last week. The Government have announced this package to support Irish businesses in response to COVID-19. The Stimulus package contains tax measures, grants and credit supports. It is aimed at creating and maintaining employment, alleviating cashflow difficulties for businesses and there are also measures for Irish consumers.

Job retention is a key aspect of the package, with the transition of the Temporary wage Subsidy Scheme, a vital support to business over the past 4 months, into the Employment Wage Support Scheme being a focal point. The government is looking to alleviate cash flow constraints on businesses by delivering cash directly to businesses in a quick and practical manner. The redesign of the Credit Guarantee Scheme aims to unlock new funding potential for businesses in a timely fashion

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