From today, February 1, 2022, the Employment Wage Subsidy Scheme rates will be cut as thousands of businesses reopen amid the latest easing of Covid measures.
The scheme was brought in back in 2020 as a form of support to help businesses cope with the fallout associated with the pandemic.
After a lengthy run, from today some businesses will notice the subsidy rates fall from between €203 - €350 a week to €151.50 - €203 a week depending on each employee's salary.
Although many will see feel these changes, the latest reduction will not affect any companies impacted by the Covid restrictions introduced in December.
According to the Revenue, at the height of the pandemic, there were 25,000 companies signed on for the payment, but as of January 27, 2022, this had dropped to 18,900 as many benefitted from the vast easing of restrictions.
By that same date, there were 229,800 employees whose jobs were supported by the EWSS, compared to 279,800 in December and 283,525 in November.
Most of the businesses that were on the books for the EWSS are in the hospitality and food industries and were hit hard by Covid-19 closures over the past two years.
Despite the easing of payments, these companies will benefit from an extension of the scheme until May 2022 while some will continue to receive the enhanced rates for another month.
All other companies will have their subsidy pay phased out entirely by the end of April.
The news comes as many other changes are made to the supports put in place during the pandemic,
Thousands of people have been eased off the Pandemic Unemployment Payment and have either returned to work or were placed on the standard Jobseeker’s payment.
Meanwhile, anyone who newly signs up to Jobseekers this month will be collecting their sum from their local Post Office as the government moves to return to pre-Covid methods of payment.
