The Covid-19 Pandemic Unemployment Support payment has been increased from €203 to €350 for those who have been financially effected by Covid-19.
The flat rate which has been increased by over 50% extends to those who were self employed and endured a reduction in hours, over a six week period. This increase is expected to cost a total of €3.7 billion.
An emergency wage subsidy scheme was also approved by the Cabinet in which the Government will pay approximately 70% of the workers salary up to a maximum of €410 per week. This equates to after tax income of a worker earning €40,000 a year.
The scheme will run for 12 weeks and is targeted at companies who have endured cash flow issues which resulted in closures due to Covid-19.
This scheme was introduced to maintain an integral link between employees and employers and allow for business to restart once the Covid-19 crisis ends.
People will be invited to collect their payments from post offices, if you already receive your payment into your bank account this payment method remains.
Currently, 400,000 workers have been affected by the pandemic with over 90,000 people applying for the scheme as of March 21 2020.