Ireland: 'No-deal Brexit budget' on the way as finance minister set to update Cabinet today - PressFrom - United Kingdom
  •   
  •   

Ireland'No-deal Brexit budget' on the way as finance minister set to update Cabinet today

11:45  11 september  2019
11:45  11 september  2019 Source:   thejournal.ie

Julian Smith called back from Irish border for Cabinet meeting

Julian Smith called back from Irish border for Cabinet meeting A planned protest outside one of the venues the Northern Ireland Secretary was due to visit was called off.

“I no longer believe leaving with a deal is the government’s main objective,” Rudd wrote. “The government is spending a lot of energy to “She was a talented welfare minister but all ministers who joined joined cabinet signed up to leaving the EU on Oct. 31 come what may, delivering on the

If no deal is agreed by 19 October, and MPs don't vote in favour of no deal , then the prime minister will be legally obliged to ask the EU for a Brexit delay. If polling day was set before 31 October, then what would happen next on Brexit would depend on the outcome of the election.

'No-deal Brexit budget' on the way as finance minister set to update Cabinet today © Reuters Ireland's Minister for Finance and Public Expenditure Paschal Donohoe arrives at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne THE IRISH FISCAL Advisory Council has said a no-deal Brexit budget is the most sensible option for Budget 2020 as Finance Minister Paschal Donohoe is expected to update Cabinet on the impact of Brexit on upcoming budget measures today.

In its pre-budget submission, budget watchdog IFAC warned that the economic outlook internationally has deteriorated in recent months as the risk of a hard Brexit has increased.

Leo Varadkar to meet Boris Johnson next week as British PM loses working majority in Commons

Leo Varadkar to meet Boris Johnson next week as British PM loses working majority in Commons Leo Varadkar to meet Boris Johnson next week as British PM loses working majority in Commons

British Prime Minister Boris Johnson will today jet in to Dublin to meet Taoiseach Leo Varadkar for crunch Brexit talks as the leaders look to strike Speaking to the Irish Sun, Finance Minister Paschal Donohoe explained he has been in talks with the EU about rescue funds for the hardest hit people in

THERESA MAY will today order her Cabinet ministers to start spending the £1billion set aside in the case of a no - deal Brexit . It follows concerns that their departments have failed to spend huge sums to prepare for the scenario of Britain walking away from the EU without an agreement.

It warned the Government should not rely on corporation tax outperformances to balance the budget and that it should not expect long-term spending to be offset by such a volatile source of income.

Seamus Coffey, Chair of the council said there is significant uncertainty in relation to Brexit just weeks out from the 31 October divorce deadline.

“I think planning on the basis of a hard Brexit given what we know is the most appropriate course of action,” he said.

'No-deal Brexit budget' on the way as finance minister set to update Cabinet today © Sam Boal Donohoe will deliver Budget 2020 on 8 October. “That’s not to say that it will happen or even that the probability of it happening is above 50% but of the range of possible outcomes that Brexit can bring, it does appear that a hard Brexit is the most likely and planning on the basis of that for the budget over the next couple of weeks is the most appropriate action to take.

Plans to test 'emergency crisis management' as risk of no-deal Brexit looms

Plans to test 'emergency crisis management' as risk of no-deal Brexit looms "EMERGENCY crisis management" will be the focus of "desk-top exercises" planned by the government as the prospect of a no-deal Brexit looms. 

What is a no - deal Brexit ? In a no - deal scenario, the UK would immediately leave the European Union (EU) Under former Prime Minister Theresa May's deal - which was voted down three times by Trade would initially have to be on terms set by the World Trade Organization (WTO), an agency with

Three ministers have said publicly they would resign if the government pursued a no - deal strategy, while others are thought to hold the same position in private. UPDATE - This article was updated on Wednesday 9 Jan to include the new amendment asking government to return to Parliament with new

Budget 2020 will be announced by Finance Minister Paschal Donohoe on 8 October.

Donohoe is expected to update Cabinet ministers on his plans for the budget and how Brexit will affect it today, in light of the increasing likelihood that the UK will crash out of the EU without a deal at the end of next month.

It is likely that tax cuts and increased spending originally planned for Budget 2020 will now be rolled back to provide for the impact a hard Brexit will have on Ireland.

“In overall terms, what happens with Brexit shouldn’t have an impact on the overall package that Government chooses to deliver,” Coffey said.

“The Government has set out a plan for budgetary measures in the 2020 budget totalling €2.8 billion. The advice of the IFAC is that the Government should adhere to, stick to and deliver on that plan.”

Varadkar Demands Guarantees on Irish Border: Brexit Update

Varadkar Demands Guarantees on Irish Border: Brexit Update Varadkar Demands Guarantees on Irish Border: Brexit Update

Minister for Finance Paschal Donohoe looks set to recommend to cabinet colleagues that the Today the Minister also receives advice from the Irish Fiscal Advisory Council (IFAC), calling on the Managing the public finances will be no easy task if there is a no - deal Brexit . As the IFAC says

The three-hour Cabinet meeting to debate no - deal Brexit prompted colorful debate, according to people familiar with the situation. He said ministers ’ job was "not to propagate unicorns but to slay them," according to a person familiar with the meeting. One of the colleagues he was aiming at had a

Around €2.2 billion of the budget will go towards existing commitments such as capital projects, leaving around 600 million available for new measures.

“If a no-deal or a hard Brexit is the base line for what they should do in that scenario, then this sort of environment should frame what they do with this €600 million but that is up to the Government to choose what individual or particular measures it wishes to introduce,” Coffey added.

MORE NEWS:

Gardai rush to scene, tensions high as locals chant 'sick rapist out' (Independent.ie)

Murdered journalist Khashoggi's final words revealed (The Hill )

Holidaymaker spared jail for running after plane (Independent.ie)

Remains of the biblical town Emmaus where Jesus travelled after his resurrection found (Daily Mail)


Warning that 12,000 motor industry jobs could be lost in event of no-deal Brexit and increase in Vehicle Registration Tax.
UP to 12,000 jobs could be lost in the motor industry if there is a no-deal Brexit and the government increases Vehicle Registration Tax in the Budget, a leading economist predicted today. Economist Jim Power warned that even with no Vehicle Registration Tax (VRT) increases and a ‘soft Brexit’ there will still be a slump in new-car sales and a risk to jobs. He said the industry was “in the most vulnerable place” since the recession of 2008. Mr Power was heading up a major pre-Budget campaign by the Society of the Irish Motor Industry (SIMI) aimed at persuading the government to hold off on any changes to the VRT system for 2020 while tackling the avalanche of used imports.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!