The Government's new Employment Wage Subsidy Scheme came into effect from midnight, and will continue to provide payroll support until the end of March 2021.
It will replace the current Temporary Wage Subsidy Scheme, which is currently underpinning the wages of almost 370,000 employees.
The Temporary Wage Subsidy Scheme, which was launched last March, assisted many businesses to survive the Covid-19 pandemic.
Its replacement - the new Employment Wage Subsidy Scheme - will be welcomed, though the criteria is tighter. The Temporary Wage Subsidy Scheme required a drop in turnover of at least 25% to qualify.