London (Brussels Morning) Ireland is expected to announce funds provision amounting to between €4 billion and €5 billion to aid pandemic related recovery and impacts post-Brexit, as part of its budget Tuesday.
The earmarked fund will support businesses that have been forced to close to help curb the spread of the virus.
A senior government source also told the Irish Times that it would help those impacted by Brexit over the coming year.
The hospitality sector, one of the hardest-hit sectors from the pandemic, will enjoy a cut to its goods and services tax, from 13.5 percent to 9 percent.
Unemployment payments will also be inclusive to self-employed who have made some earnings this year.
Health spending will also receive a boost to meet the demands brought on by COVID-19, including increasing hospital capacity and mental health support. Spending will amount to around €1.6 billion.
The increased health package will encompass the health developments, including investment in maternity services and new trauma strategy. It will also involve 2,550 more beds as part of its pandemic response and winter plan for the health service, including sub acute beds, rehabilitation beds and community beds.
In addition, 450 more beds will be provided in intensive care units by 2022, and several thousand more staff are expected to join the health service, including a portion of the hospital consultants promised last December.
The cash injection would see the health budget rise from €17.4 billion to about €21 billion. This amount is notwithstanding the €2 billion provided to help meet the challenges of COVID-19 at the beginning of the year.
The budget will also include €1.3 billion for testing and tracing the virus and buying personal protective equipment (PPE).
Ireland‘s child and family agency, Tusla, is also expected to receive €50 million additional funding with an extra €100 million distributed across the disability budget.
There will also be more funding to help improve asylum seekers’ accommodation.