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Taoiseach rules out welfare cuts and tax hikes for dealing with economic impact of Covid-19

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Taoiseach rules out welfare cuts and tax hikes for dealing with economic impact of Covid-19

Galway Bay fm newsroom - The Taoiseach appears to have ruled out welfare cuts and income tax hikes for dealing with the economic impact of the Covid 19 crisis.

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Leo Varadkar says they're not something the country needs in the next few years.

The number of confirmed cases in the Republic now stands at just under 9 thousand and 320 people have died.

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Meanwhile, the governor of the Central Bank has warned not all jobs lost during the Covid 19 pandemic will be recovered.

The unemployment rate reached 16.5 percent in March as hundreds of thousands of people were left without work.

In an interview with The Business Post, Gabriel Makhlouf also says the shock to the economy will be more severe than anticipated.

The Central Bank has already warned it could take a hit of 15 per cent if restrictions aren't lifted by September.

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