Taking more businesses out of the Vat net, reducing taxes for the tourism sector, lowering commercial rates, and extending wage subsidies further are all expected to be included in the Government’s jobs stimulus package to be unveiled next month.
- Raising the Vat threshold for employers. Currently, businesses with annual turnovers over €37,500 providing services or €75,000 for goods must register for Vat;
- Assessing the future of the pandemic unemployment payment. The wage subsidy scheme is also likely to be extended beyond August;
- Easing credit lines, enacting legislation for the €2bn credit guarantee scheme, Sure scheme, and the warehousing of tax liabilities;
- Commencing a high-level review of the economy to identify sectors with the greatest opportunity to grow and sustain quality jobs;
- Establishing sectoral taskforces, with experts, stakeholders, and chaired by line ministers, to focus on needs of sectors and to produce plans for the National Economic Plan;
- Scaling up Microfinance Ireland so it can support greater numbers and review the Business Restart Grant and consider further supports for SMEs;
- Launching a multibillion-euro recovery fund which will include infrastructure development, reskilling plans, and support investment.