130 thousand small and medium businesses will get half of their local authority rates returned to them as part of the Budget.

Any business which paid up to 20 thousand euro in rates will qualify for the Increased Cost of Business scheme.

A total of 250 million euro has been allocated for the scheme, which will see payments to businesses in the first quarter of next year.

Enterprise Minister Simon Coveney says those businesses don't even need to apply for the scheme.