Finance Minister Paschal Donohoe speaking during a press conference at Government Buildings. Image: PA Images Finance Minister Paschal Donohoe speaking during a press conference at Government Buildings. Image: PA Images MINISTER FOR FINANCE Paschal Donohoe has said that the huge budgetary deficit the country is incurring as a result of the Covid-19 crisis will have to be addressed in the future.
“Two weeks ago, I said that on the basis of decisions that were made, the figure would be and was €23.5 billion,” the minister told Newstalk Breakfast. The costs of borrowing are real and one of the issues that both the Taoiseach and I have looked to address over the last number of days, is just to make the case, is that in the run in to this crisis we reduced our borrowing, we got to a point that we were actually in a budget surplus. “That in turn has enabled us to do what we can do now. And over time, as we are successful I believe in containing this terrible disease. We will have to do that again,” Donohoe added.
#Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to youSpeaking in a separate interview on RTÉ’s Morning Ireland, Donohoe said that the details of this have not yet been decided.
Stick the 30billion we owe onto the 200 billion we already owe, sure what’s another 30b when we are taking these sort of figure😤. We are no different then any other country that is affected by Covid 19!! The 12-13billion Apple owe Ireland would help
Here’s an idea. How about we stop spending €115 million a month on private healthcare assets we are utilising at 30% capacity at most. CancelTheContract
I'm sure people like Denis O'Brien and the banks will step in and save us all 🙄 After all we save them.......
Leo said we have no problem with funds because of our rating,at the start of all this..
EU countries have €750 billion at minus interest rates. That’s fairly low cost
The top decision makers in this crisis carried on their lives on their excessive salaries, the only sacrifice was maybe trips abroad, fine restaurants, big concerts. The peasemts will pay in taxes after all this to keep the Elites Elite.
Great thanks for that
I could have swore I heard there is 13billion sitting in an account that belongs to the Irish people.
Please replace this lad......asap.
Well maestro Paschald begin with cutting the size of our useless Gov, then the outrageous tds remuneration.
Paschald then will you please for the love of God stop borrowing money to waste! 150M per month for private hospitals you're not using. Covid payments without means tests of 350 a week. There's lots more to list, C'mon man grow a pair.
The heroes of today are about to become the slaves of tomorrow
Let's hope he is not there to juggle it. One for you 3 for me.
We are borrowing to pay his wages..!!
Says the Sponger King who refused to put off TD’s 8.5k salary hike just a couple of weeks ago.
Taxpayers and the poor will end up beating the costs. What about the €150 million for use of private hospitals which nobody is using?
It makes me laugh that people commenting on here thinks we will never have to pay this back. Every country in the world is looking at this now. we needed and need the help but we have to pay it back it is like any loan it has to be repaid. Basic economics
Will this effect u paschal ?
.., yes ok, look, it will all have to be paid for with every cent earning interest that was paid out ..... but, the good news is that we saved a lot of lives, and that’s what I’m taking from this ... no point going on about it ... 🙈
Let the banks carry the cost, they were bailed out the last time now it's there turn to return the favour to the people,,,
The EU said,” they would write off the loan for the bank against the citizens.
The cost of borrowing for government's has never been so low, so why do they act as if Ireland inc. is going to disappear and need to pay loans off asap? Treat it like a 35 year mortgage and don't commit the country to another 10 years of austerity.
Isn't there a few euros resting in teds account.... from Apple..!! Sure I read that somewhere...
Take one for the team so, make all TD'S and especially ministers take a pay cut put on the 🇮🇪 jersey (like gov have asked of the public) and show some example, instead of raking in close to €200k as you won't feel any austerity measures when they eventually raise their head.
The attitude has changed it's all about cost now.....payback talk already !!!
Stop paying PUP higher than people's usual average weekly wage for 1. You shouldn't make more money for not working. Should be based on their usual weekly average like it was originally intended. Employers made to look like bad guys asking people to come back to work to earn less
DinanNoel You spoke too soon
Here we go the crying starts if we weren’t bad enough pascal , with shite coming out of 2 sides of his mouth . With phase 1 pending , he tries to scare everyone and all this is doing is frightening workers that are not allowed back to work til phase 2/3/4 /5 . Rebellion
Take a pay cut then you wank
Central banks will print more.... QE Infinity....Those with capital (0.1%) will be able to borrow at negative rates. The cost of any real asset will go up even more while Christine Legarde and Jay Powell will be telling everyone that 'there is no inflation'...
But not a penny will come from paycuts within the Government, they’ll prob get a payrise & a bonus for “the great job” they have done & we’ll end up paying for it as per usual with a FFG government 🙄
Politicians never solved any of the problem they generated or highlight. Never. Their goal is to keep solving it as long as possible, creating new programs, taking new loans, and let public pay for it. Each country is the same. There is no place to escape.
Use the central bank
....and here comes the covid tax kite flying. How about taxing the banks at the proper 12% not the special 6%. Take the apple tax. start taxing the vacant property or land The big corps who pay fuck all. When they’ve knocked at those doors then come to PAYE workers
Which is why an EU COVID19 bond is required, separate out from individual country operating debt.
So they’re gonna make 1.2m of us unemployed then make us pay for it next year? Good times.
Real, at a negative interest rate. Which won't be reflected to the public I can guarantee you.