Finance Minister Paschal Donohoe has unveiled a 17.7-billion-euro budget package in the Dail.
There will be a 3.4-billion-euro recovery fund aimed at increasing employment. The fund will be targeted to boost domestic demand.
As part of the stimulus package the VAT rate for hospitality will be reduced to 9% from November 1st.
The Temporary Wage Subsidy Scheme or a similar scheme will remain in place to the end of 2021.
Minister Paschal Donohoe said the budget is framed with both Covid and Brexit in mind.
It’s a budget focused on the big picture.
It’s a broad budget with lots in it as the government seeks to borrow and spend its way out of this recession.