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helping hand Cabinet sub-committee discusses proposals for new financial support scheme to help businesses reopen

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Tanaiste and Minister for Enterprise, Trade and Employment Leo Varadkar

Tanaiste and Minister for Enterprise, Trade and Employment Leo Varadkar

Tanaiste and Minister for Enterprise, Trade and Employment Leo Varadkar

A Cabinet sub-committee last night discussed a proposal from Tánaiste to provide financial support for thousands of businesses excluded from the Covid Restrictions Support Scheme (CRSS).

The proposal by Tánaiste Leo Varadkar would create a new subsidy scheme, named the Covid Business Aid Scheme (CBAS) to support businesses across different sectors which have been excluded from the CRSS.

It is understood that the new CBAS scheme would help thousands of businesses to reopen and “bring them out from the cold”.

Some of these businesses would include sole traders such as florists and bookmakers.

Certain sole traders have not qualified for CRSS, the government’s current wage subsidy scheme for businesses impacted by coronavirus restrictions.

Around €239 million has to date been claimed under the CRSS in respect of 20,000 business premises, Minister for Finance Paschal Donohoe told the Dáil last week.

The weekly sub-Cabinet meeting was attended by Taoiseach Micheál Martin, Tánaiste Leo Varadkar, Ministers Eamon Ryan, Michael McGrath, Catherine Martin, Paschal Donohoe, Simon Coveney and Heather Humphreys as well as their officials.

The scheme will be demand led and it is understood that the amounts the scheme will cost are yet to be determined.

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