Ireland could need a 10 billion euro stimulus package to boost the economy because of the Covid 19 pandemic.
The Irish Fiscal Advisory Council is warning the incoming Government will have to make difficult economic decisions.
The Irish Fiscal Advisory Council says the Covid 19 crisis has had a huge impact on Ireland and there’s exceptionally high uncertainty.
Consumer spending is down 5 per cent while a quarter of workers are currently being supported by the State.
Appearing before the special Covid 19 Oireactas Committee the Advisory Council said a 10 billion euro stimulus package could be needed.
But Acting Chairman Sebastian Barnes says that figure could change.
The Council said numerous times during the Committee hearing that it doesn’t expect Ireland to return to the severe austerity that followed the 2008 crash.
The Advisory Council says the incoming Government will have to make difficult decisions and consider three things: our aging population, the cost of meeting climate change targets and our reliance on corporation tax receipts.
