80,000 jobs and planned income tax cuts at risk due to threat of global trade war, Paschal Donohoe says

Minister Paschal Donohoe indicated that due to potential trade conflicts between the US and the EU, Ireland could see a loss of 50,000 to 80,000 jobs over the next five years. These job losses would significantly hinder economic growth and lead to increased living costs. Furthermore, proposals from Fine Gael to implement tax cuts may need to be delayed as economic conditions evolve negatively, emphasizing the importance of being prepared for global trade challenges, particularly through EU membership.

Minister Donohoe warned that an intense US-EU trade dispute could put between 50,000 and 80,000 jobs at risk, impacting economic growth and living standards.

The proposals to reduce taxes made in Fine Gael's manifesto may face delays due to anticipated slower growth and increased economic uncertainty.

Read at Irish Independent