Business

Government to provide more targeted financial supports for hard-hit sectors

People wearing face masks pass a boarded-up and temporarily closed pub in Dublin. Photo: Paul Faith/AFP via Getty Images

The State will provide more targeted financial support from the third quarter for sectors hardest hit by the Covid-19 pandemic, such as aviation, tourism, hospitality and arts, the Minister for Enterprise has said.

Ireland and other euro zone countries are likely to decide between March and May when and how governments should start tapering support to their economies as vaccination campaigns allow the lifting of lockdowns, officials said this week.

Tánaiste Leo Varadkar said the Government will extend into the second quarter its three main supports – the pandemic unemployment payment, the employment wage subsidy scheme and grants for businesses forced to significantly shut down.

“In the short term, Government will extend into quarter two the vital financial supports in place,” Mr Varadkar told the Dáil.

“We will also provide more targeted financial support beyond quarter two for those sectors that have been particularly wounded by this pandemic, such as aviation, tourism, hospitality, the arts and entertainment.”

The Restaurants Association of Ireland welcomed Mr Varadkar’s commitment to additional supports.

Source:

www.breakingnews.ie

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