Stay-and-spend initiative to be launched as part of July stimulus package

The government will launch a new stay-and-spend initiative to boost tourism as part of the July stimulus package today.

Holidaymakers will get 125 euro back on roughly 600 euro spent on accommodation and food bills.

As part of a new stay-and-spend programme people will get money back for holidaying in Ireland in the form of a tax credit or rebate.

It's expected that a spend of around 600 euro on accommodation and restaurant bills will entitle people to 125 euro back.

It's the way the government has decided to proceed with supports for the tourism sector.

The July stimulus will be launched this afternoon following a cabinet meeting in Dublin Castle.

It's expected both the Pandemic Unemployment Payment and the Temporary Wage Subsidy scheme will be extended until April next year.

The unemployment payment will be reduced in September to 300 euro a week, and further evaluated early next year.

While the structure of the wage subsidy scheme is likely to be changed and reduced over time as well.

The stimulus package is expected to be in excess of 7 billion euro and will include funding for most departments.

It's likely to include significant funds for the retrofitting of schools, colleges and hospitals to allow them to re-open with social distancing guidelines.

There will also be significant business supports in the form of increased re-start grants and access to low cost loans through the credit guarantee scheme.