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The Minister for Finance, Paschal Donohue, has stated that the upcoming 2020 budget is going to be based on a no-deal Brexit on October 31st.

This comes after the Irish Fiscal Advisory Council revealed that Brexit could leave a major hole in the Government’s budget, requiring it to cut spending or raise taxes.

UK Prime Minister Boris Johnson’s visit to Dublin this week has given rise to hopes that a deal could be reached before October 31st.

However, Donohue is still stressing cautions over global trade as uncertainty continues over the UK leaving the European Union.

-Daniel Potter