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Ireland sets aside €1.2 billion for no deal #Brexit package

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Ireland’s finance minister said on Tuesday (8 October) that the government will run a budget deficit of 0.6% of gross domestic product next year if Britain crashes out of the European Union without a deal, to fund a €1.2 billion package for affected firms, write Graham Fahy and Padraic Halpin.

“In the event of a no-deal, we will intervene in a sustained and meaningful way to support jobs and the economy,” Paschal Donohoe told parliament when presenting his budget for 2020, which is based on the assumption of a no-deal Brexit.

“These interventions will support firms of all sizes at all levels of difficulty, with a particular focus on sectors most exposed, including food, manufacturing and internationally traded services.”

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