Tánaiste Leo Varadkar has told the Irish public to avoid thrift and to start spending the €12b n in household savings this summer to kick-start the economy.
In the wake of the Government’s €4bn stimulus plan and ahead of the reopening of the hospitality sector tomorrow, Mr Varadkar has urged consumers to spend big on clothes, household goods and repairs, nights out and weekends away in order to help the economy and employment to recover from the devastation wreaked by the Covid-19 pandemic.
Writing exclusively in today’s Sunday Independent, the Enterprise Minister predicts economic growth could break all records in the next three months, allowing the economy to “take off like a rocket” and help to restore public finances.
He also gives a commitment the government will not raise income taxes, including USC, describing such a move as “counterproductive”.
Read the full report here.