Cost of Covid will reduce chances of new spending or tax cuts Ibec warns

However, the mark left of the State's balance sheet by Covid should not mean a return to austerity

The total level of card spending is now at its highest level since March 2020, excluding the Christmas period. Picture: Damian Coleman

The cost of protecting the Irish economy from the impact of the Covid pandemic will reduce options in the coming years for new spending or tax cuts, IBEC has warned.

However, the business representative group said the significant mark left of the State's balance sheet does not mean a return to austerity.