Ireland prepares for the twin threats of Brexit and coronavirus with a mega-budget

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The Irish government has presented a budget that it calls the 'largest in the history of the state' as it faces down the twin threats of coronavirus and Brexit.

Ministers announced a raft of measures on the assumption that there will be no EU-U.K. trade deal and no vaccine will be available in 2021.The corporate tax rate of 12.5% wasn’t changed, but the shadow of international tax talks still looms.DUBLIN — The Irish government has presented a budget that it calls the "largest in the history of the state" as it faces down the twin threats of coronavirus and Brexit.

Minister for Finance Paschal Donohoe and Minister for Public Expenditure and Reform Michael McGrath presented their budget packages to parliament amid a stark economic outlook for Ireland. Some of these measures include 1.1 billion euros granted to the Department of Business, which oversees Covid support funds for startups and small businesses, a reduction in VAT for hospitality businesses to 9% until December 2021, 55 million euros for the tourism business support scheme and a 50 million euro fund for live entertainment.

The entire country was recently moved to level three of Ireland's coronavirus plans, forcing some businesses to close once again or operate under tighter restrictions.

 

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