COVID-19 wage subsidy schemes have cost the taxpayer more than €10.6bn over the past two years.

Today marks the official end of the wage subsidy supports, which have been in place in some form since March 2020.

The Department of Finance said the Temporary Wage Subsidy Scheme (TWSS), introduced to support employers at the start of the pandemic, cost the taxpayer at total of €2.8 billion.

That was replaced by the Employment Wage Subsidy Scheme (EWSS), which eventually cost €7.86bn.

It ended for most businesses on April 30th; however, businesses impacted by the last round of sanctions – largely pubs and restaurants – were granted an extra month, with their supports ending today.

The Government said the payment played a “vital role in maintaining the important link between employers and employees” throughout the pandemic.

The TWSS supported 67,000 companies employing almost 690,000 people.

The EWSS supported 51,900 companies employing almost 744,000 people.

The Finance Minister Paschal Donohoe said the two schemes “played a crucial role in preserving employment and incomes and supporting businesses at a very challenging time during the pandemic.”

“The success of the schemes is clearly evident by the employments supported, as well as how quickly our economy adapted and recovered following the lifting of public health restrictions,” he said.

“I signalled the end of the EWSS many months ago to give businesses sufficient time to plan and adapt as necessary and I expect that many businesses have seen a resumption in their levels of trade.”

He said the extension of the 9% VAT rate for tourism and hospitality should give “further support and clarity” to businesses.