Newstalk
Newstalk

11.47 7 Oct 2019


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Taoiseach Leo Varadkar says Tuesday's budget will be about limiting risk to the economy.

Finance Minister Paschal Donohoe will unveil the 2020 budget designed for Brexit after final negotiations finish on Monday.

A rise in carbon tax and fuel costs is expected, along with tinkering to the help to buy scheme.

The cost of cigarettes will go up but alcohol will be untouched - amid fears of cross border smuggling after Brexit.

Mr Varadkar says it will be a conservative budget.

"There are enormous risks and challenges in the global economy at the moment - not just from Brexit - also evidence of a slowdown in big economies like Germany and trade tensions between the US and China in particular.

"So we can't mitigate for all of these things, but we can take decisive and positive action to prepare for them, and that's what we're doing".

Meanwhile, pensioners are set to miss out on a €5 increase in the budget.

The Irish Independent reports that Budget 2020 will focus instead on families struggling with the cost of living.

It is expected that Minister Donohoe will introduce measures to reduce out-of-pocket expenses for parents.

However, many of these are not likely to come into effect until after the next general election.

Free GP care for under-8s and free dental treatment for under-6s is not expected until September 2020 - while increased subsidies for childcare may not kick in until November.

And IBEC says Government intervention will be like a life-support for some businesses if there is a no-deal Brexit.

It is calling for State aid support worth €1.5bn over the next three years, if a deal is not struck when the UK leaves the European Union.

IBEC wants the state to re-introduce an enhanced Enterprise Stabilisation Fund, like it did during the financial crisis in 2009.


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Alcohol Brexit Budget 2020 Cigarettes Help To Buy Scheme IBEC Leo Varadkar Paschal Donohoe Pensioners Slowdown

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