The July Stimulus Package
On 23 July, the coalition government announced their long-awaited stimulus package, which aims to protect the Irish economy and support businesses across all sectors. The package, estimated at €7.4bn, contains a mix of measures that include tax cuts, expenditure and support credits.
Job retention and creation is a key focus of the package, with the government looking to alleviate cash flow difficulties for business through extending the wage subsidy scheme, rates waivers and access to more affordable and longer-term debt funding.
The consumer will also benefit from the package, with tax rebates available for those holidaying in Ireland, an increase in the first-time buyers help-to-buy-scheme and a drop in the standard VAT rate from 23% to 21% for a six-month period.
discuss the main points from the July Stimulus Package in our next webinar which will be held on
Thursday August 13th 2020