€1bn Brexit hit for taxes as consumers worry

Brexit fears will cost the Government €1bn in lost tax revenues this year as Irish consumers rein in spending, according to a major survey.

The survey by KBC Bank and the Econonomic and Social Research Institute (ESRI) reveals that what it calls the "Brexit blues" pushed its measure of consumer sentiment in July back to the level of November 2014 — when the economic recovery was still uncertain.