Over 30,000 employers register for wage subsidy scheme

📆 01/04/2020 16:16:00
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Over 30,000 employers have now registered for the new Temporary Wage Subsidy Scheme, and €34 million in wage refunds have been paid out, according to a Government briefing today.

However, the Revenue Commissioners have been unable to make refunds totalling over €2m to 770 employers because they have not set up a nominated Refund Bank Account on the Revenue On-Line System .

It is hoped this will maintain the employer-employee link, and make it easier to restart the company when the Covid-19 emergency ends. Under the scheme, the Government will pay 70% of the normal take home pay for workers earning under €38,000 up to a maximum of €410 per week. However yesterday, the Chairman of the Revenue Commissioners Niall Cody said a such a declaration was "absolutely not a declaration of insolvency".

He said that companies with normal cash reserves to meet future plans can still qualify for the Temporary Wage Subsidy Scheme.

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