Budget 2020: Five things you need to watch out for

Smart Money: How will it affect the cash in your pocket?

Indications are that the “€5 a week “ given in welfare increases and tax cuts in recent years will not happen.

Indications are that the “€5 a week “ given in welfare increases and tax cuts in recent years will not happen.

The Government is doing its best to play down expectations for next Tuesday’s budget. But with the threat of a no-deal Brexit looming, a general election likely in 2020 and key questions on public investment, the carbon tax and more to be faced, the budget will be a vital pointer. And, as ever, it will affect the cash in people’s pockets. Here are the key things to watch:

1. The Brexit package

This will be the trickiest issue for Minister for Finance Paschal Donohoe to face. By next Tuesday we will be none the wiser about whether a no-deal Brexit is likely to happen on October 31st, or not. While a deal negotiated by the EU and UK before the next deadline looks most unlikely on the basis of the latest plan from Boris Johnson, recent UK legislation – the Benn Act – seeks to oblige the UK to ask for an extension.

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