Donohoe: 'Many different scenarios' being looked at to boost post-Covid economy

Donohoe: 'Many different scenarios' being looked at to boost post-Covid economy
Paschal Donohoe

Minister for Finance Paschal Donohoe has said that “many different scenarios” are being examined regarding how to accelerate the recovery of the economy when the Covid-19 crisis has passed.

He told Newstalk Breakfast that it was important to see how quickly the export market could recover.

“We are already looking at lots of different options to accelerate a recovery,” he said.

But he said that any recovery would have to be inclusive of all who have helped to protect the country from the virus.

When asked about the income subsidies in place, some of which pay a higher amount than people were previously receiving, the Minister acknowledged there was an anomaly, but the alternative was that “hundreds of thousands” would have been “just about getting by”.

“What we have done is put in place income supports - not everything is perfect. When the public health crisis has passed, that will have to be revised. I’m certain that we can make the right choices.”

The Minister said that there were very positive signs that communities and citizens were responding to appeals. The message was that it was important “to keep at it” and to keep implementing the guidelines.

Mr Donohoe added that it would be important to reboot and create a new economy after the crisis. “It is very clear that we can create a new economy and the country can recover from this.”

The latest restrictions in operation since Friday, March 27 mandate that everyone should stay at home, only leaving to:

  • Shop for essential food and household goods;
  • Attend medical appointments, collect medicine or other health products;
  • Care for children, older people or other vulnerable people - this excludes social family visits;
  • Exercise outdoors - within 2kms of your home and only with members of your own household, keeping 2 metres distance between you and other people
  • Travel to work if you provide an essential service - be sure to practice social distancing

More on this topic

Gardaí go 'out of their way' to make 90-year-old's birthday 'extra special'Gardaí go 'out of their way' to make 90-year-old's birthday 'extra special'

'Guaranteed' that 'second wave will come when they ease restrictions', says UCC professor'Guaranteed' that 'second wave will come when they ease restrictions', says UCC professor

Call for Government to change 'blunt' road map to reopening IrelandCall for Government to change 'blunt' road map to reopening Ireland

10 fun craft projects you can do with the kids10 fun craft projects you can do with the kids