Temporary Wage Subsidy Scheme has cost over €2bn to date

The government’s Temporary Wage Subsidy Scheme has now cost in excess of €2 billion, according to the latest statistics issued by the Revenue Commissioners.

Around 415,000 employees are currently being directly supported by the scheme, having received a TWSS subsidy in their last payroll cycle.

However, since the scheme was launched on 26 March, over 618,000 employees have received at least one subsidy payment. 

The cost to the exchequer is now €2.062 billion, inclusive of €151 million in income tax refunds.

In total, 243,900 people received TWSS payments in the last seven days, with 32,200 getting the subsidy for the first time – though the weekly figures vary depending on whether workers are paid on a weekly, fortnightly or monthly basis. 

Over 67,400 employers have now registered for the TWSS, and over 62,800 of those have already received subsidy payments. 

Reflecting the reopening of the economy, 109,600 employees have closed their Pandemic Unemployment Claims to work in jobs subsidised by the TWSS. 

A further 111,200 have closed their PUP claims to move into non-subsidised work. Of those, 144,000 have resumed work with their pre-layoff employer, while 11,200 have been hired by a new employer.

However, 24,600 workers who were in TWSS subsidised posts have now been laid off and are claiming the Pandemic Payment.

The TWSS was established in March to encourage employers to retain a link to their employees, reduce layoffs and make it easier to restart business activity when the Covid-19 emergency eased.

It is due to cease at the end of August, but is widely expected to be extended beyond then. 

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