The government will introduce assistance packages for businesses facing difficulty before the next budget with Finance Minister Michale McGrath saying he wants to see the rollout of a quarter of 1 billion euros in grants.
Speaking on Morning Ireland, McGrath has said that a report brought forward by Minister for Enterprise Simon Coveney had highlighted the impact that certain policies had on business “in particular improving rates of pay, minimum wage and, improving certain leave entitlements and so on”.
The minister highlighted the energy efficient grant for businesses saying this is being “increased in relation to employer PRSI” saying that low levels of PRSI were “associated with low levels of income”.
McGrath said the government was “committed to examining what we can do in that space,”.
“There is a cost to business, arising from the combined effect of all of those measures. And as a result of that, we have already indicated a number of moves that we are prepared to make,” he said.
The minister continued that the energy efficiency grant for businesses is being increased, “In relation to employer PRSI we have identified the consequence of the step effect that is there in respect of the low rate of employer PRSI, associated with low levels of income.”
McGrath said he was committed to looking at what can be done in respect of struggling businesses before the next budget saying, “Minister Coveney brought forward a proposal to develop an options paper to cabinet recently,”
“So that work is advancing through the Department of Social Protection. That is what I support.” he said.
Speaking of his support for Simon Harris who is likely the next Taoiseach he wished to “congratulate” Harris on his success “and hopefully his impending elevation to the Office of Taoiseach”.
McGrath said he was “impressed” by Harris’ work “around the Cabinet table” as well as “his work as a minister”.