Finance Minister says austerity is not inevitable

The Finance Minister says it’s not inevitable that Ireland faces a time of austerity after the pandemic.

Paschal Donohoe was speaking after the latest exchequer returns show the country’s deficit has risen to just over €14bn in February.

Vat receipts are down 13% when compared to this time last year.

But Minister Donohoe says this doesn’t automatically mean austerity after the covid crisis.

“There’s nothing inevitable about that.

“The reason wjy we’re able to do what we can do at the moment is that we went into this crisis with our national finances and economy very well run and in good shape, and we have received exceptional support from the European Central Bank.”

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