[ad_1]
Among the priorities will be cash aid for companies that were forced to close during the pandemic, an additional 4,000 million euros for the Department of Health, an additional 500 million euros for social housing and financing to hire more doctors, gardaí, teachers and special needs assistants. announced by the Coalition when it presents its first budget on Tuesday.
A massive package of state supports for individuals, businesses, long-term capital investment, and more cash for public services will form the basis of the 2021 Budget, which will see the Government borrow up to 19 billion euros next year to prop up the economy in crisis. .
Late on Monday night, ministers agreed that the Christmas bonus would be paid to all welfare recipients and that the eligibility criteria would be changed to allow 90% of current recipients of pandemic unemployment payment. (PUP) received the bonus if they remain unemployed until early December.
The budget is also expected to include a new scheme to support the cash flow of companies forced to close due to Covid-19 restrictions, allowing them to claim expenses against income tax or corporations in advance. Payments will be limited to € 5,000 per week and will last the period of forced closure.
Budget 2021
How The Irish Times Will Cover You
WATCH NOW
Events and hospitality
Other business support will also be expanded, with specific subsidies for sectors such as events and hospitality, while the salary subsidy scheme will now extend until the end of 2021. The VAT rate for hospitality will drop from 13.5% to 9%.
There will be a great package of green measures, including a home remodeling plan. The vehicle registration tax and the motor tax will be reformed to incentivize low-emission and electric cars and penalize polluters, and about 10 percent of motorists will face higher bills.
The Government will also act to bolster the arts sector with a range of new support and grant schemes designed to counter the damage caused by Covid-19. There will be a separate live entertainment scheme worth “tens of millions”, sources say, for venues that have had to cancel concerts due to restrictions.
Another similar plan worth about 5 million euros will be implemented, but it will apply to school, university and local theater events that are affected by the pandemic.
There will also be funding for an additional 600 gardaí, and another 500 civilian employees, as well as an additional 1,000 special needs assistants and an additional 400 special education teachers.
A significant package of new housing finance is also expected to be announced, including € 500 million for social housing built directly by local authorities and approved housing bodies.
[ad_2]