Ibec urges further EWSS extension for hospitality

The group  said further support is needed for those businesses in the so-called ‘experience economy’.

Ibec chief executive Danny McCoy.

Employers’ group Ibec has urged the Government to continue financial supports for companies in the hospitality, tourism, and retail sectors who are at risk of being financially impacted by reduced social gatherings amid the latest round of Covid restrictions.

Ibec wants the employment wage subsidy scheme (EWSS) extended beyond next April, calling it the “single most effective fiscal support” for businesses. 

It also wants the €4bn contingency fund, identified in the October budget, to be allocated “as soon as necessary” to provide continued support for Covid-impacted businesses.

Extensions of the Covid restrictions support scheme (CRSS) and commercial rates waiver is also needed, it said.

Ibec said further support is needed for those businesses in the so-called ‘experience economy’, which covers hospitality, retail, travel, food, drink, tourism, entertainment, technology, and events.

“The impact of the latest restrictions will be particularly damaging for these firms as we enter the crucial Christmas period during which such a high share of annual revenue is earned,” said Ibec CEO Danny McCoy.

“We know from the previous Covid waves, the measures that will work to help sustain this vital part of the economy.”