Monday August 3, 2020

The government’s €7bn ‘Late Late Show’ stimulus package

A Vat cut, a €125 tax credit for staycationers, and grant increases for businesses and first-time buyers are just some of the goodies in an ambitious programme to reboot the economy

Michael Brennan

Political Editor

@obraonain
23rd July, 2020
Taoiseach Micheál Martin and Tánaiste Leo Varadkar, left, announced a six-month cut in the higher rate of Vat to bring it down from 23 to 21 per cent as part of the July stimulus package. Pic: RollingNews

The €7 billion July stimulus has turned out to be a “Late Late Show” package with something for everybody in the audience.

There were plenty of headline-grabbing measures, such as the six-month cut in the higher rate of Vat to bring it down from 23 to 21 per cent.

Taoiseach Micheál Martin and Tánaiste Leo Varadkar said this was aimed at the retail sector in particular which has been hammered by the enforced lockdown and...

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