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Taoiseach Promises Support for Small Businesses Amid Rising Costs

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The new Taoiseach has pledged to prioritize assistance for small businesses in light of the additional costs they have faced. One proposed measure is to pause plans to increase sick leave days. However, questions arise as to whether the government can justify this pause after the Covid-19 pandemic exposed the inadequacy of sick leave entitlements.

The new Taoiseach has promised to prioritise supports for small businesses , acknowledging that extra costs have been imposed on firms in quick succession.

Employers must pay workers on sick leave at 70% of their daily rate of pay, up to a maximum of €110 a day or €550 for a five-day working week. Employees, many of whom were hailed as"essential workers" faced a significant risk of losing out financially if they took sick leave when infected with the virus.

The escalating cumulative costs include changes to statutory sick pay, as well as the increase in the minimum wage to €12.70, which came into effect on January 1, increases to employer PRSI, the imminent introduction of pension auto-enrolment, increases in salary thresholds for work permits and enhanced protective leave entitlements.The Minister for Finance Michael McGrath said that the Government would have to"reflect" on the accumulation of costs that have been imposed on businesses.

Owen Reidy, ICTU general secretary, said,""I think people need to remember that these are modest and moderate but necessary reforms, which were to bring us into line with Europe." She added,"The employer can deduct the amount of sick pay from the corporation tax. You don't hear too many of them telling you that."

Taoiseach Small Businesses Costs Sick Leave Pandemic Entitlements

 

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