Increased subsidies, longer mortgage breaks and volunteering your tech

Business Today: the best news, analysis and comment from The Irish Times business desk

“If we can protect the income of employees who otherwise would not be working, it gives us a fighting chance of saving the businesses for which they work,” - Minister for Finance Paschal Donohoe on revisions to the Covid wage subsidy scheme

“If we can protect the income of employees who otherwise would not be working, it gives us a fighting chance of saving the businesses for which they work,” - Minister for Finance Paschal Donohoe on revisions to the Covid wage subsidy scheme

 

The Government is increasing the amount it will pay under the coronavirus wage subsidy scheme in a bid to keep more part-time workers on the payroll. Eoin Burke-Kennedy work through the details.

On this week’s Business podcast, Brian Hayes, chief executive of the Banking & Payments Federation Ireland, confirms that his body is now in talks with the Central Bank about doubling the current three-month mortgage break timeframe for customers who have been hit financially by the pandemic.

Broader and stronger tax and spending measures will be needed to pursue economic recovery, according to the OECD.

Laura Slattery reports that British fashion retailers Oasis and Warehouse have fallen into administration in the UK, placing them on a growing list of clothing groups pushed over the edge by the coronavirus crisis.

In other news, Naomi O’Leary reports on how Britain plans to clinch its post-Brexit deal over video conferences in the coming months.

And Dominic Coyle reports that serial entrepreneur Séamus Mulligan has led a $20 million (€18.3 million) fundraising in an Irish company that hopes to revolutionise the treatment of cancers.

It’s back to the coronavirus for tech and innovation, where Ciara O’Brien writes on how the current lockdown is driving a surge in use of telemedicine, while Frank Dillon talks to author and innovation trend expert Jeremy Gutsche, who says history proves that in chaos, there is opportunity.

Finally, in her column this week, Karlin Lillington offers tips on how, through web volunteerism and crowdsourced missions, you and your technology can help fight Covid-19.