| 14.4°C Dublin

Close

Premium


Government's challenge now is how to encourage us to spend record levels of household savings

Philip Ryan


Close

(Stock photo)

(Stock photo)

(Stock photo)

Anyone who has recently walked down the street in their village, town or even city will realise why the Government decided to cut the top rate of Vat. During lockdown the eerie desolation on our high streets was unnerving at times.

While footfall has increased since social distancing restrictions were lifted, business has not returned to anything near the levels of the 'Boom Mark II' we were experiencing only six months ago.

This was weighing heavy on the minds of Finance Minister Paschal Donohoe, Public Expenditure Minister Michael McGrath and Climate Action Minister Eamon Ryan as they debated how to revive the economy. There are few sectors unaffected by the Covid-19 pandemic but retail has been one of the worst hit.