Government planning 'significant' one-off financial support for firms in budget

Minister for Enterprise Simon Coveney: ‘Of course, we've got to make sure our budget doesn't add to inflationary pressures.’ File photograph: PA The Government is said to be planning a significant once-off financial support for cash-strapped businesses in the Budget 2024. The scheme, which is being championed by Minister for Enterprise Simon Coveney, will be aimed at Small and Medium Enterprises (SMEs) hit by rising energy costs, inflation and higher taxes. It is also seen as compensation for the expected removal of the reduced rate of VAT in hospitality and the likely hike in the minimum wage next year. Health…