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McGrath examining new measures for struggling businesses

Minister for Finance Michael McGrath has said that he is looking to introduce measures to assist struggling businesses.

Mr McGrath told reporters this morning that an options paper was being drawn up in relation to the application of the lower rate of PRSI for employers, in respect of how much they pay for employees on low pay.

It is being led by the Department of Social Protection and decision is due to be made in the coming weeks as to whether an adjustment will be made.

He also said that he wanted to see “very quick payment” of the “increased cost of business grant”, over the coming weeks.

The minister said he was considering deploying some resources from the national training fund, where there is a €1.5 billion surplus.

Separately, Mr McGrath paid tribute to the work of the former junior minister in the Department of Finance, Jennifer Carrol MacNeill, describing her as a great colleague.

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