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Irish Mirror
Irish Mirror
National
John Patrick Kierans & Cormac Byrne

Budget 2020: 'Brexit Package' announced and here is what is in it

Paschal Donohoe spent most of the opening of his Budget 2020 speech discussing Brexit.

The Finance Minister announced a "Brexit Package" of €1.2bn - excluding funding from the EU.

€200m has been made available for next year, allocated across a number of departments and agencies to ensure we are ready for Brexit.

Commenting on the impact of a no-deal Brexit, Mr Donohoe said there will be a slower pace of economic and employment growth but that he expects that 19,000 new jobs will be created next year.

He also made it clear that while a no-deal Brexit looks likely for now, that it is not inevitable.

He said plans to put €500m into the Strategic Investment Fund will not happen due to Brexit.

€1.5bn will be transferred to the Rainy Day Fund, given that a No-Deal Brexit is likely.

Minister Donohoe said: "The Budget I am announcing today is designed to protect recent progress in our economy.

"It will act as a bridge to a better future for our country. Crucial to this will be how we manage our public spending."

Here's what is included in the 'Brexit Package':

  • €220million ready straight away if no-deal Brexit happens on October 31
  • €110million for the agriculture sector
  • €40million for tourism
  • €365 million for longer dole queues, and
  • €390million will be set aside for unknown Brexit contingencies
 
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