The Labour Party (PL) has proposed a new initiative called SMEBoost, designed to alleviate the financial pressure on self-employed individuals. This plan would allow self-employed workers to maintain their current 15% contribution rate but would provide a cash grant, effectively reducing their contribution rate to 10%, aligning it with that of employed workers. The PL stated this measure acknowledges that self-employed individuals do not receive employer contributions. The party estimates this scheme could offer annual savings ranging from nearly €630 to €1,450 per individual, potentially reaching up to €7,150 over a full legislature. This proposal is projected to inject over €20 million annually into the self-employed sector, exceeding €100 million in five years, while ensuring pension entitlements remain unaffected.