Finance Minister rules out personal tax cuts in Budget 2019

The Finance Minister has ruled out any personal tax cuts in the budget.

The government has agreed the measures it announces will be on the basis of a no-deal Brexit.

The government has been facing a choice.

Plough ahead with a standard budget on October 8th, just weeks before Britain’s due to leave the EU.

Or base it on the threats lying ahead from a potential no-deal Brexit:

Paschal Donohoe says the package of measures will still come to 2.8 billion euro.

But social welfare announcements will be scaled back compared to previous years and be targetted at the most vulnerable.

And personal tax cuts are also off the table:

The Irish Fiscal Advisory Council says preparing the budget based on a no-deal Brexit is appropriate.

But chairperson Seamus Coffey says the state finances could still be at risk:

The government says an extra 900 million euro will still be spent on capital projects next year.