Brexit no-deal budget demanded by Fianna Fáil
An emergency fund to save Brexit-hit agri-food groups and SMEs in the event of a no-deal must be factored into the budget, Fianna Fáil has told the Government.
Following the EU’s rejection of British prime minister Theresa May’s Brexit plan this week, there are growing concerns about the prospect of Britain crashing out of the EU next March.
The Irish Examiner understands that Fianna Fáil, which supports the Fine Gael-led government under the confidence and supply agreement, wants an emergency ‘no deal’ fund readied for Budget 2019. It would draw funds from the exchequer as well as off-balance-sheet funds and potentially amount to hundreds of millions of euro, senior Fianna Fáil sources confirmed. The idea has already been put to Finance Minister Paschal Donohoe.
While money could come from the extra €800m available for next year’s budget, other sources being considered are the Strategic Banking Corporation of Ireland, through the Ireland Strategic Investment Fund. This could be off-balance- sheet and support SMEs.
Fianna Fáil wants a full diagnostic of financial needs in health laid bare for the budget. Finance spokesman Michael McGrath said: “We have been left with a lack of transparency in the last number of years for health. It emerges later that the HSE was looking for more than allocated. We want a requirement to improve services in 2019, including deficiencies in the acute hospital and disability services.”
However, Taoiseach Leo Varadkar yesterday reiterated there are limited funds for Budget 2019, saying: “The budget numbers are tighter than people may expect.
“Because of all of the money that we are putting into the health service, there will be a health overrun this year, and that’s because of all the extra staff we are hiring; that’s because we are reducing average waiting times for people waiting for an operation down to six months or less; so it’s money well spent, but it’s money nonetheless.
“Also, we have made commitments to restore public sector pay so we have made a lot of commitments already and that means that the room for manoeuvre on budget day is limited.”
