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Irish Industry News

07/10/2011

European Commission Support EFG Assistance

In a significant step forward, the European Commission has given their approval on an application that will make significant funds available to help unemployed construction workers across Ireland.

If approved Ireland will receive €35m from the European Globalisation Adjustment Fund (EGF) to help 5,987 redundant construction workers.

The Irish applications must still be approved by the European Council and the European Parliament.

EGF will co-finance a range of active labour market measures to assist a specific group of ex construction workers who were made redundant in Ireland between 1 July 2009 and 31 March 2010.

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The application comes after more than 9,000 redundancies from small and medium sized enterprises operating in the construction sector. The dismissals were a direct consequence of the financial and economic crisis.

Of these 9,000 redundancies it is the 5,987 people who are finding it most difficult to get back into employment that will be targeted for assistance.

It is understood that the funding will be set aside for occupational guidance, training programmes, enterprise/self-employment supports, and training allowances and income supports.

The EGF has been asked to provide €35.7m but the total cost of the package is estimated at €55m.

The Minister of State at the Department of Education and Skills, Ciaran Cannon said: "This EGF support will, when fully approved by the EU, assist us significantly in funding these measures at a time when the public finances are under major pressure".

(LB/BMcC)
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European Commission Support EFG Assistance - In a significant step forward, the European Commission has given their approval on an application that will make significant funds available to help unemployed construction workers across Ireland.