Covid Restrictions Support Scheme for Hospitality and Arts Sector welcome – O’Sullivan

The provision of a Covid Restrictions Support Scheme for sectors of the economy that have been especially hit by public health measures, particularly those in hospitality and the arts, is very welcome.  

TD for Cork South West, Christopher O’Sullivan commented “The new scheme will help those businesses whose trade has been substantially curtailed or temporarily closed as a result of the limits as set out in the Government’s ‘Living with Covid-19’ Plan. The scheme will take effect when Level 3 restrictions or are in place. 

“This is a massive issue in West Cork in particular.  The sectors being targeted are hospitality, the arts, recreation and entertainment for businesses such as these, the Government will make a payment, based on their 2019 average weekly turnover, to provide support at a difficult time. 

“Qualifying businesses can apply to the Revenue Commissioners for a cash payment in respect of an advance credit for trading expenses for the period of the restrictions. The scheme will run from today until the end of March, with the first payments being made by mid-November. 

“Payments will be calculated on the basis of 10 per cent of the first €1 million in turnover and 5 per cent thereafter, based on average VAT exclusive turnover for 2019. There will be a maximum weekly payment of €5,000.” 

“This is a very welcome scheme which I know will bring great comfort to many in West Cork today. It will hopefully provide some respite for the many businesses and sectors currently bearing the brunt of Covid restrictions.”