The Government's Employment Wage Subsidy Scheme (EWSS) came into effect overnight and will continue to provide support for thousands of businesses affected by Covid-19.
It has replaced the Temporary Wage Subsidy Scheme, set up at the start of the pandemic, and will continue until March next year.
Businesses looking to qualify for the new support face tighter restrictions than under the previous scheme.
They'll have to show a drop in turnover of 30 per cent as opposed to 25 per cent, and will also have to provide proof that they are tax compliant.
The EWSS is intended to be in place until March 31st, 2021.
Employers have been advised to keep up to date with the most recent guidance issued by Revenue and the Government in relation to the scheme, and should seek specific legal advice where necessary.
Finance Minister Paschal Donohoe will continue to monitor the economy and changes may be made to EWSS.