Question 1

What does the Financial Provisions (Covid-19) (No. 2) Bill 2020 do?

Accepted Answer

Extends Temporary Wage Subsidy Scheme eligibility to workers returning from maternity, adoptive, paternity, parental, health and safety, parents or illness benefits, and apprentices; increases maximum subsidy from 70% to 85% for those earning €586 or less weekly. Introduces Employment Wage Subsidy Scheme replacing TWSS, providing flat-rate subsidies to qualifying employers whose turnover or customer orders fell to 70% or less of July-December 2019 levels. Creates debt warehousing for businesses unable to pay PAYE, VAT and employment contribution debts due to Covid-19; zero interest for initial restricted period plus twelve months, then 3% annually until end-2022, with enforcement suspended if business complies.

Question 2

What stage is the Financial Provisions (Covid-19) (No. 2) Bill 2020 at?

Accepted Answer

As of 17 Aug 2020, the Financial Provisions (Covid-19) (No. 2) Bill 2020 is at Enacted. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Financial Provisions (Covid-19) (No. 2) Bill 2020?

Accepted Answer

The Financial Provisions (Covid-19) (No. 2) Bill 2020 was sponsored by Minister for Finance, and was introduced on 23 Jul 2020.

Financial Provisions (Covid-19) (No. 2) Bill 2020

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