Brexit impact hits as growth predictions fall

The first impacts of Britain’s drawn-out divorce from the EU are set to hit the Irish economy, with growth predictions now falling for this year and next.

Ministers negotiating next week’s budget however, are insisting that the reduced economic forecast because of the Brexit fallout will not impact on spending measures for 2017.

Pre-budget tax receipts announced yesterday show that the Government collected half a billion euro more so far this year. Tax receipts rose to €33.4bn, up 5.7%, as the exchequer took in €484m more than anticipated.