Are there benefits for both the employer and employee at work?
A number of initiatives have been introduced which will benefit both employers and employees.
For those at work or starting work:
Apprenticeships
There will be 1,200 new apprenticeships, 1,100 new traineeship enrolments and 10 new apprenticeship schemes in 2019
National Minimum Wage
The national minimum wage will increase from €9.55 per hour to €9.80 per hour (from 1 January 2019).
Primary and post-primary schools
From September 2019, there will be an extra 372 teaching posts in schools. 271 of these are in response to rising numbers of pupils and 101 are to provide additional special classes.
A further 950 Special Needs Assistants (SNAs) will be recruited, bringing the total number to over 15,900. The Comprehensive Review of the SNA Scheme is to be implemented and €4.75 million in funding is provided to start this.
For employers:
Key Employee Engagement Programme (KEEP)
KEEP facilitates the use of a share-based remuneration by small and medium-sized enterprises (SMEs) to attract key employees. It is available for qualifying share options granted between 1 January 2018 and 31 December 2023. Budget 2019 has introduced changes to help SMEs to compete for skilled staff, which include:
-
Increased ceiling on maximum annual market value of shares that may be awarded to equal the amount of the salary (up from 50%)
-
Introduction of a lifetime limit
-
Increased overall value of options that can be awarded per employee from €250,000 to €300,000
Earned Income Tax Credit
The Earned Income Tax Credit will increase from €1,150 to €1,350. This is relevant for taxpayers earning self-employed trading or professional income in certain cases and for business owners or managers who are not eligible for a Pay As You Earn (PAYE) credit on their salary income.
To find out more, visit citizensinformation.ie call 0761 07 4000 or drop in to your local Citizens Information Centre.
have your say