The Minster for Public Expenditure and Reform said that 2020 has been a devastating year for many businesses throughout the country and the Government has already provided an unprecedented level of support through the July Stimulus.
"As we continue to live with Covid-19 restrictions, the onus is on Government to provide supports to help sustainable enterprises survive," Michael McGrath said.
He said he was allocating €1.1 billion to the Department of Enterprise, Trade and Employment to deliver supports through Local Enterprise Offices and Enterprise Ireland to assist SMEs and companies with the negative impact of Covid.
The Minister also announced further funding for R&D through the Covid products scheme and additional expenditure on the IDA's Regional Property Programme to support investment in Ireland.
"Additional current expenditure will also be provided to Enterprise agencies and regulatory bodies to meet the increase in the demand for their services arising from Covid-19 and Brexit," the Minister stated.
Michael McGrath today announced that an extra €55m is also being provided in Budget 2021 for a Tourism Business Support Scheme and €5m for Tourism Product Development.
Noting that the tourism industry has been hit very hard by the pandemic, he said these schemes will be a vital support for the wider hospitality sector.
Mr McGrath said that Covid-19 has also had a devastating impact on arts, cultural and sporting activities.
He said it was the responsibility of Government to ensure that the thousands of people working in these industries are supported, adding that he is providing €50m in Live Entertainment Supports, while Arts Council funding is increasing to €130m - a €50m increase on last year.
Sport Ireland is also getting an increased allocation of €36m in funding - €7m for large-scale sports infrastructure and €2m for major sporting events.
An additional €3.5m for Teilifís na Gaeilge has also been allocated for next year
Sport Ireland is also getting an increased allocation of €36m in funding - €7m for large-scale sports infrastructure and €2m for major sporting events.
An additional €3.5m for Teilifís na Gaeilge has also been allocated for next year
