Brexit shock could force extra budget next year

ESRI warns economy could fall into recession in event of disorderly Brexit

Minister for Finance Paschal Donohoe has signalled he will have a budget day package of €2.8 billion  but will borrow more to fund contingency measures to deal with a no-deal Brexit if needed. Photograph: Brenda Fitzsimons

Minister for Finance Paschal Donohoe has signalled he will have a budget day package of €2.8 billion but will borrow more to fund contingency measures to deal with a no-deal Brexit if needed. Photograph: Brenda Fitzsimons

The Economic and Social Research Institute (ESRI) has warned that the Irish economy could fall into recession next year in the event of a disorderly Brexit.

In its most shrill Brexit warning to date, the think tank also indicated that the Government may need to hold a supplementary budget in the early part of 2020 to counteract a major shock from Brexit.

Please subscribe or sign in to continue reading.
only €1 first month

Insightful opinion is just a away.