Coronavirus: Ireland reveals post-Covid recovery plan

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People on Grafton street in Dublin's city centre on 18 March 2021Image source, Brian Lawless
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The National Economic Recovery Plan contains €3.6bn (£3.1bn) in spending commitments

The Republic of Ireland's government has unveiled an economic plan mapping out a post Covid-19 future.

The plan was launched by the three coalition party leaders in Dublin Castle on Tuesday.

It includes a phased ending to pandemic unemployment payments, property tax increases for some and an emphasis on the green economy.

The Taoiseach (prime minister) Mícheál Martin said there was "enormous damage to be undone".

The Tánaiste (deputy prime minister) Leo Varadkar said "our economy is going to take off like a rocket".

Image source, Reuters
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The 9% VAT rate for the hospitality sector is to stay in place until September 2022

The Organisation for Economic Co-operation and Development predicts the Irish economy will grow by more than 4% this year.

The National Economic Recovery Plan contains €3.6bn (£3.1bn) in spending commitments aimed at workers and businesses badly affected by the pandemic.

Just under €1bn of that will come from the European Union's recovery fund.

Green Party leader and Transport Minister Eamon Ryan announced "an important day" for Cork with the proposed metropolitan rail link for city and parts of the county.

There will also be a loan scheme for retrofitting and insulating houses and 50,000 new jobs training places are to be introduced.

The 9% VAT rate for the hospitality sector is to stay in place until September 2022 to assist an industry that has been particularly badly affected by the lockdown.

It is estimated about 100,000 people out of a total population of five million will have to pay more in property tax, including owners of new homes after 2013, who were previously exempt.

Opposition parties have indicated that they will reserve judgement until they see the full detail of the plan but have said they support any measure that helps ordinary people.