Ibec responds to new wage scheme

Tuesday, 24 March 2020

As the COVID-19 crisis has deepened over recent weeks, Ibec has engaged extensively with Government in relation to a range of business priorities including the possible introduction a temporary income continuance scheme for impacted workers and the continued operation of essential businesses. 

Ibec believes today’s announcement by Government, including that of a temporary wage subsidy scheme and the continued operation of essential businesses, will play a crucial role in enabling the economy to bounce back at the other end of this COVID-19 crisis. 

CEO Danny McCoy said: “Ensuring the health and well-being of our society in these challenging times remains paramount, and we reiterate that the business community stands ready to support whatever measures are required to address this unprecedented health challenge. The further social distancing measures announced today are sensible and will be fully supported by the business community. 

“However, simultaneously we must do everything possible to prevent a deep demand shock and do everything to allow the economy to recover at the end of this crisis. 

“It is welcome to see courageous leadership from Government, in particular with the announcement of a temporary wage subsidy scheme and the enhanced unemployment supports and illness payments. These income supports are a crucial and important further step towards keeping vulnerable firms alive, keeping their employees engaged with them and protecting the income of individuals. 

“The announcement that essential businesses such as manufacturing and other necessary services are to remain open, insofar as they can adhere to social distancing measures to protect the welfare of employees, is to be welcomed.”