Exchequer returns for November show sharp increase in spending combined with weaker receipts. The public finances were €8.9 billion in the red last month as the second wave of Covid lockdowns saw spending on pandemic-related supports rise and tax receipts slide.
This compares to a surplus of just €3.3 billion this time last year, and marks a year-on-year deterioration of €12.3 billion.
Gibbons forecasts five year recovery
The tourism sector could take more than five years to recover from the impact of the pandemic, an Oireachtas committee has heard.
Tourism Ireland has said that a large-scale marketing campaign will be needed to soften the blow of Covid-19 on tourism. Niall Gibbons, CEO of Tourism Ireland, said that while it has been a “catastrophic” year for the industry, he believes tourism will recover from the Covid-19 pandemic.
The Licensed Vintners Association (LVA) and the Vintners Federation of Ireland (VFI) have accused the Government of using misleading data and information to keep parts of the hospitality sector closed.
From Friday, pubs that serve food will be allowed to reopen, while pubs that do not must remain closed for the rest of the year.