FINANCE

Youth work subsidy plan starts Jan 1

youth-work-subsidy-plan-starts-jan-1

The program subsidizing the first jobs of people aged 18-29 and their employers with a total of 1,200 euros per month for six months is set to start on January 1, 2022, according to an amendment by the Labor Ministry.

The measure only concerns young people with no work experience and is aimed at facilitating their being hired with the payment of a maximum of €600 from the state budget to them every month, plus another €600 or less to their employer in the private sector for the first six months of their employment, be that full- or part-time.

The same amendment, included in a Justice Ministry bill currently being discussed in Parliament, further provides for the option of settling the social security debts created during the pandemic in 72 tranches.

That measure will satisfy the demands of thousands of enterprises whose contributions were put on ice during the lockdowns and who had been expected to pay them off in the standard 12-installment payment scheme; they will now be able to have them arranged in 72 tranches, in the same way that tax debts will also be settled.