A 7-billion euro July stimulus package will be unveiled this afternoon.

The pandemic unemployment payment and the temporary wage subsidy scheme will be extended until April 2021 but will be reduced over time.

It's part of a 7-billion euro stimulus package aimed at kick starting the economy in the second half of the year and into 2021.

The rates of the payment will gradually be reduced however, with the pandemic payment put onto a scale based on what people earned pre-covid and eventually reduced back to the €203 a week jobseekers rate.

The stimulus package will also include a stay-and-spend initiative that will give people holidaying in Ireland tax back on their accommodation and restaurant bills - for roughly every 600 euro spent people will be able to claim back 125 euro.

Though it won't apply until September or October, missing the usual peak tourism season.

There will be an extension of the restart grants for businesses which gives access to up to 10,000 euro.

There will also be access for low cost loans for companies on top of the 2 billion euro credit guarantee scheme.

The package will include supports across most sectors of the economy yet to be announced.