July stimulus package - main points

From extension of PUP and VAT rate changes to retrofitting homes and ebikes

Minister for Finance Paschal Donohoe leaving the Cabinet meeting in Dublin Castle. Photograph: Stephen Collins/Collins
Minister for Finance Paschal Donohoe leaving the Cabinet meeting in Dublin Castle. Photograph: Stephen Collins/Collins

– Pandemic Unemployment Payment (PUP) will run until April 1st. Closes to new entrants from September 17th. Will be cut in line with past incomes.

– Qualifying employers to get €203 weekly subsidy per employee from September 1st until March 31st. Seasonal workers and new hires covered.

– Six month fall in higher VAT rate to 21 per cent, beginning September 1st, costing €440 million.

– A “staycation” tax voucher worth €125 to encourage off-season holidays in Ireland.

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– Up to €25,000 worth of “restart” grants. Previously ineligible businesses, such as B&Bs, will be covered.

– Commercial rates waiver to continue until September, costing €60 million.

– Maximum Help-to-Buy relief for home buyers rises by €10,000 to €30,000.

– Interest rates on tax debts to fall to 3 per cent for those struggling to pay.

– Bike-to-work scheme extended, including €1,500 limit on ebikes.

– Cheap loans for businesses with up to 500 people, plus a €2 billion credit guarantee scheme.

– Businesses to get €2,000 for each extra apprentice they take on, plus a two-year €7,500 JobsPlus subsidy to hire under-30s who are currently unemployed, or on PUP.

– PAYE and VAT payments can be delayed, with no interest or penalties.

– Measures to encourage start-ups.

– A €25 million fund for arts and culture

– €500million budget for smaller “shovel ready” capital projects, such as schools.

– €100 million energy retrofitting budget, plus €60 million to refurbish vacant local authority houses.