Budget 2020 has been prepared on the basis of a no-deal Brexit, the Finance Minister has confirmed.
The full details of the budget are due to be announced on October 8th.
That's just over 3 weeks before the UK is due to leave the European Union.
Finance Minister Paschal Donohoe says the decision to plan based on a crash out scenario is to give certainty to people across the country and businesses in vulnerable sectors.
💶 Finance Minister Paschal Donohoe says the budget will now be prepared on the basis of a no deal Brexit 💶
He’s also ruled out any personal tax cuts and says the social welfare package will be scaled back compared to previous years pic.twitter.com/goF5AOYbda
— Stephen Murphy (@Stephen_Murphy5) September 11, 2019
Minister Donohoe has confirmed any tax changes will be 'minimal' and although there will be a social welfare package in the budget, it will be scaled back compared to previous years.
€900 million in capital spending will still go ahead.
Speaking this afternoon, Minister Donohoe said this capital investment "will be preserved for next year, because if we do get into dealing with a no-deal Brexit, I want to be going ahead with public projects. I want to be co-funding private projects that will be employing people who would otherwise be at risk".
He says this would also bring work to parts of the country which would be particularly affected by a no-deal Brexit.