Finance Minister Michael Noonan has said that there will be little impact of Brexit on his plans for tax cuts and spending increases in October’s Budget.
Minister Noonan said that while there is likely to be an impact in the medium term, most of the factors for the next Budget are relatively fixed.
He has told the Finance Committee that the fallout is hard to predict now as it is not certain what deal Britain will get, who will be negotiating for the British Government or who will be leading the Opposition.
However, Minister Noonan said that there will be changes in our growth forecasts by Budget day.
“The next step is – all these figures are revisited before the budget,” he said.
“And in the Budget, a new set of figures will be published, using the most recent data in September.
“We’re not in a position to do anything before then, you know? Obviously the people involved in the forecasting will be watching all the movements.”