It replaced the Temporary Wage Subsidy scheme overnight and will continue until the end of March next year.
The top subsidy rate for workers under the new scheme drops from 410 euro per week to €203 while those earning less than €151 will no longer be eligible.
The scheme is set to cost the taxpayer at least €2.25 billion
Companies will also have to prove they're tax compliant, but Minister of State at the Department of Finance, Sean Fleming, says those having trouble paying it shouldn't
