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Friday, April 23, 2021

Final cost of Government’s Temporary Wage Subsidy Scheme almost €2.9 billion

The final cost of the Government’s Temporary Wage Subsidy Scheme (TWSS), which expired last Monday, amounted to €2.844 billion.

Last week, €108 million was paid out.

From the time the scheme was launched in March, over 663,100 employees received at least one subsidy.

In the past week, an estimated 360,000 people have been directly supported by the scheme, as they received a subsidy in their most recent pay last week.

An estimate was made by Revenue that around 20,100 employers with 161,600 employees left the TWSS before its expiration.

To date, over 26,700 employers have registered with Revenue to the new Employment Wage Subsidy Scheme (EWSS).

In order for employers to be eligible for this scheme they must have tax clearance and experience at least a 30% drop in turnover.


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