Record €11bn budget package fails to avert recession fears

Picture: Harry Burton

The Government will spend billions in the coming months to try to stave off the worst of the cost-of-living crisis after it announced a record €11bn budget-day package.

Despite unprecedented spending which will hit €90bn in 2023, Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath would not rule out further emergency spending next year as it was admitted that a cold snap could put the country on the brink of recession.