The Employment Wage Subsidy Scheme rates will be cut from today, but not for those companies impacted by Covid restrictions introduced in December.
The subsidy rates will fall from a range of €203 – €350 a week to €151.50 – €203 a week depending on an employee’s salary.
According to provisional statistics published by Revenue last week, there were 229,800 employees whose jobs were supported by the EWSS up to January 27th this year.
This compares to 279,800 in December and 283,525 in November.
There are 25,000 companies registered for the scheme but as of January 27th, 18,900 employers were in receipt of support.
Approximately 42% of the companies benefitting from EWSS are in the Hospitality and Food Services sectors.
Many of these companies will benefit from an extension of the enhanced rates for another month and an extension to the scheme until the end of May.
All other companies under EWSS will have their subsidies phased out by the end of April.
To date, €6.3 billion has been paid out under the scheme.
Another €976 million has been foregone through reduced PRSI rates.
Article Source – EWSS rates to be cut from today for some companies – RTE – Robert Shortt