Government bracing for 'profound uncertainty' amid recession fears

Eva Osborne

It is shaping up to be a major week for the Government as it faces rising economic uncertainty.

With fears of a recession and US tariffs looming, a new business support fund and major spending plans are on the table.

Newstalk's Daniel Pitcher said the Government is bracing for what it calls “profound uncertainty” as fears grow over US tariffs and their impact on Irish exports.

This Tuesday, the Government will publish the Summer Economic Statement, outlining €30 billion in extra capital spending to boost infrastructure, housing, and energy - bringing the total National Development Plan to nearly €100 billion.

At the same time, Enterprise Minister Peter Burke is expected to announce a new contingency fund to help firms most exposed to US trade penalties.

Up to 950 companies could benefit, with support to cover wages and daily costs.

Ministers say it’s part of a wider push to avoid recession and safeguard jobs.