Following the COVID-19 crisis, several initiatives have been implemented to try to assist the economy stabilize and several recovery plans are now under way.
Retention and creation of jobs central focus of budget 2021
Jobs were always going to be center stage in Budget 2021 – not just creating new ones but clinging on desperately to the imperiled ones that already exist. The Government is forecasting a total loss of approximately 320,000 jobs in 2020 but estimates that this will recover by approximately 155,000 jobs next year. Capital investment allocations should boost employment on infrastructure projects including housing, schools, roads, transport, broadband, retrofitting, and climate change measures.
PUP may be extended beyond April, but at a level affordable over long term: Humphreys
The Pandemic Unemployment Payment (PUP) may be extended beyond its end date of next April. The PUP had been expected to last only six to 12 weeks when first introduced. However, given the long-term nature now seen with COVID-19, steps had to be taken to ensure its sustainability.
For more information on how Ireland is coping as it moves into a medium-term recovery, visit our news page.