Irish holiday voucher for all 'would cost exchequer €400m'

Meanwhile, Central Bank governor Gabriel Makhlouf has reiterated that many small firms will fail to survive the Covid-19 crisis.

Blarney Castle, Cork. A staycation scheme to support the tourism industry would present every adult with €200 and cost the state €400m.

A leading tourism business group said a voucher plan for every adult to spend €200 on accommodation and food to encourage staycations would cost the exchequer €400m. 

The Irish Tourism Industry Confederation (ITIC) said the ostensibly high cost of the new promotion can be justified because, it said, only €2m of an existing Stay & Spend Scheme originally costed at €270m by the Government has so far been drawn down.