New enterprise support package expected to be approved by Cabinet on Tuesday
Minister for Enterprise Peter Burke revealed earlier this month that of the 125,000 businesses that could qualify for the increased cost of business grant, only over 50% had actually applied
Taoiseach Simon Harris pledged to unveil a range of supports for businesses when he took up office last month, and Government sources have confirmed that a key plank of the plan will come in the form of additional grants for the hospitality and retail sector. “It now looks likely that an immediate double payment of the cost of doing business grant to those who qualify in hospitality and retail is the quickest way of getting more cash to small businesses,” a senior Government source said. ”If you already applied and got the grant, you can get same again. If you didn’t apply yet you can get double.”
The minimum wage was increased to €12.70 this January but the PRSI threshold for the higher rate did not move up to €495. This means that employers paying a minimum wage for a 39 hour week are paying the higher 11.05 per cent rate. Further increases to the national minimum wage could also be phased in at a slower pace. One Government source said this plan, however, would be subject to decisions made by the Low Pay Commission.
Low-Pay-Commission Peter-Burke
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