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Fiscal council says pandemic welfare supports will be needed into 2022


Fiscal council says pandemic welfare supports will be needed into 2022
Council claims Covid payments halved the contraction in the domestic economy
about 5 hours ago
 
Pandemic welfare supports will need to be extended after the economy further reopens next month, and on a “more targeted basis into 2022”, the chairman of the Irish Fiscal Advisory Council (Ifac) has said.
Sebastian Barnes told the Oireachtas Committee on Budgetary Oversight the economic impact of Covid-19 would have been twice as bad if the Government had not provided “large temporary supports” to workers and businesses.
Unlike the response to the 2008 financial crisis, the Government was able to pursue countercyclical fiscal policy – in other words increase spending in a downturn, Mr Barnes told the committee. ....

Oireachtas Committee On Budgetary Oversight , Oireachtas Committee , Budgetary Oversight , Oin Burke Kennedy , Leo Varadkar , Sebastian Barnes , Committee On Budgetary Oversight , Irish Fiscal Advisory Council ,