An extension will be placed on the Pandemic Unemployment Payment which will last until April 2021.
The payment will be gradually reduced to €203 a week.
It is estimated that the total cost of this extension will be €2.24 billion.
From the 17th of September, the scheme will close to new applicants.
The three rates of payment will be €300 a week for anyone who earned over €300 a week before the pandemic.
Those who earned €200-300 a week will earn €250 a week.
Those who earned less than €200 a week will continue to earn €203 per week.