Government launches €7.4bn Jobs Stimulus to help businesses re-open, get people back to work and promote confidence
The Government has announced the July Jobs Stimulus, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19.
Launching the Jobs Stimulus, the Taoiseach, Micheál Martin TD said: 'The stimulus package announced today will protect existing jobs while creating new and sustainable employment options in the months and years ahead. These measures will support small and medium businesses, give young people greater opportunities in training and education, support workers who have lost their jobs because of the pandemic and rejuvenate communities worst affected by the economic impact of the virus. This is a comprehensive plan which will boost the economy and bring confidence back to towns and villages across Ireland.'
The July Jobs Stimulus will provide a boost to the economy, building confidence and moving us towards a more sustainable future across all of our regions. This is the next stage of the national recovery and will immediately build on the billions in supports already provided during the crisis.
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD said: 'This has been a time of enormous stress and strain for employers and their staff. We’ve already pumped billions of euro into the economy through wage subsidies, the PUP, cash for businesses, low cost loans and commercial rates waivers. We know these actions have made a difference. We’ve made enormous progress on suppressing the virus, and significant progress too on restarting our economy. More than 280,000 people have already got back to work. Repairing the damage wrought on the economy – and keeping the virus contained – is vital for the wellbeing of our people. Today’s stimulus package is the next step in our national recovery story. It is designed to help businesses which haven’t reopened yet and those struggling to do so. We have listened to businesses and responded with a package of scale and speed to meet their most immediate needs. Our main objective is to save jobs and create new ones.'
The measures being launched today are designed to do 4 things:
1. Backing Ireland’s Businesses
2. Helping People - Especially young people, get back to work
3. Building Confidence and investing in communities
4. Preparing Ireland for the Economy of the Future
The July Jobs Stimulus is the next step in the Governments response to the Covid-19 pandemic. Later this year the Government will set out a National Economic Plan, to chart a long term, jobs-led recovery. It will set out how we secure our public finances in a world where we must live with Covid-19, while driving efforts to decarbonise our economy and prepare for the next phase of technological transformation.
Value of Covid-19 Related Enterprise and Labour Measures