Budget 2020 Strategy

Sep 16, 2019

Budget 2020 will be formulated on the basis of a disorderly Brexit at the end of October according to government. The budgetary package of €2.8 billion; €2.1 billion already pre-committed to expenditure measures as set out in the Summer Economic Statement and the balance of €0.7 billion for further allocation, will still apply. 

According to the statement on the Department of Finance website, the government will permit “the automatic stabilisers to operate”. The statement explains that this will allow for “a reduced tax-take due to fewer people at work and increased social welfare supports due to an increase in unemployment.”

Included in the Minister for Finance’s statement on the matter, he said that “A no-deal Brexit will have profound implications for Ireland on all levels. These include macroeconomic, trade and sectoral challenges, both immediately and in the longer term. A crucial policy response is to build up our capacity to respond to these challenges.”

Read the Department of Finance press statement.