Temporary Wage Subsidy Scheme extended until the end of August
Through a press release on 5 June 2020, Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., announced the extension of the TWSS until the end of August. The scheme was originally due to run for twelve weeks from 26 March 2020.
Considering the challenges faced by employers in the reopening of the economy under the Roadmap for Reopening Society and Business, the Minister said he was satisfied with the decision to continue the scheme.
Over 58,300 employers had registered for the TWSS, at the time of the Minister’s announcement, allowing for the support of more than 514,700 employees. The numbers relying on the TWSS for support is expected to decline as the reopening of the economy continues throughout the summer.
According to the Department of Finance, continued monitoring of economic recovery will inform further decisions on the TWSS, with the Minister stressing that “this support cannot last forever”.