Government Weighs Support Package for Ireland’s Business Community…
Dublin: Today’s cabinet meeting will deliberate on a proposed support package aimed at alleviating the challenges faced by retail and hospitality businesses grappling with soaring operating costs.
Prime Minister Simon Harris has underscored his government’s commitment to assisting businesses burdened by escalating costs. The recent hike in the country’s minimum wage to €12.70, implemented in January, has compounded the financial strain on enterprises. Minister of Enterprise Peter Burke’s forthcoming proposal is anticipated to comprehensively address these pressing issues, including the significant burden posed by high PRSI rates.
Funding for the support package is set to be drawn from unutilised allocations within the €257 million Business Support Scheme overseen by Minister Burke.
Last year, businesses were permitted to claim up to 50% of their billed expenses, capped at €10,000. Consequently, eligible business owners received a maximum grant of €5,000. Additionally, it is anticipated that Minister Burke’s proposal will entail further grants tailored to support eligible retail and hospitality establishments.
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