The Employee Wage Subsidy Scheme brought in by the Government at the beginning of the Covid-19 pandemic is set to see substantial reductions from today.
The changes will mean that the rate paid per employee will be reduced to €100 until April 30, after which the subsidy scheme will end.
Businesses that were directly impacted by the restrictions announced on December 20 will also see a cut in their rates. However, these will be reduced to €203 per employee instead of €100.
The only exception to this is for employees in the €151.50 to €202.99 weekly wage bracket who will have their subsidy cut to €151.50.
The full rate of employer’s PRSI will also return to its usual rate today for all businesses.
The rate was reduced to 0.5% for all wages eligible for the subsidy.
There were still 22,500 employers registered to receive the Employee Wage Subsidy Scheme as of last Thursday.
The Government is said to have spent over €6.5bn on the EWSS so far, with the accommodation and food services sector recorded as the biggest recipient of the scheme, having received €1.849bn in supports since it was introduced.
The second biggest recipient has been the wholesale and retail trade, which has received a total of €795m so far.
Elsewhere, the Pandemic Unemployment Payment (PUP) is also set to end this month.
Those getting the PUP and another social welfare weekly payment saw an end to their payment on February 25, with the last payment on Tuesday, March 1.
The PUP scheme will end on March 25, with the last payment on Tuesday, March 29.
However, PUP will end before this date for some people as rates are gradually reduced.
