July 12, 2020 / 1:24 PM / 22 days ago

Irish central bank governor sceptical about VAT cut

DUBLIN (Reuters) - Ireland’s central bank governor is sceptical about a cut to VAT under consideration by government to help boost the economy, saying on Sunday that it should not be the main measure of a stimulus plan due later this month.

“I’m always a bit sceptical about the value of a reduction in VAT, it may have it’s place but it can’t be the main measure,” Gabriel Makhlouf told Irish national broadcaster RTE in an interview.

“I tend to be sceptical about using tax as a measure to provide support from government. I think it’s much better to provide direct support because it allows you to target that support but more effectively and efficiently.”

Reporting by Padraic Halpin; Editing by Raissa Kasolowsky

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