Save The Jobs €1bn Job Protection Investment
Updated : Jun 24, 2009
The Government has reportedly told unions and employers that it is prepared to invest up to €1bn in a job-protection programme as part of a proposed economic recovery deal.
Reports this morning say the proposal was put forward in talks late last night.
The unions have been arguing for some time that the protection of jobs is at least as important as the bailout of the financial sector.
Under the scheme put forward last night, companies struggling due to the recession would reportedly receive a temporary state subsidy of €200 per employee every week.
The jobs involved would have to be fundamentally viable and would have to be in companies that were trading healthily a year ago.
The scheme would run until the end of next year.
The Government has also reportedly told the unions that it is prepared to invest up to €100m per year in a new pension insolvency scheme.
The proposals are due to be considered by the executive council of the Irish Congress of Trade Unions at a meeting today.