WORLD OF PAIN

FINANCE Minister Paschal Donohoe ruled out a cost of living deal to mitigate cost hikes caused by US tariffs while tax changes may have to be postponed.

- LOUISE BURNE

He highlighted the risks facing the Irish economy when President Donald Trump announces tariffs today.

In his so-called "Liberation Day" he will announce levies on trading partners. While the burden on individual countries is unclear, Ireland's pharmaceutical industry is in the firing line.

Speaking after Cabinet yesterday, Mr Donohoe said tariffs will be a "significant day in world history".

He added: "I do believe it is very likely that we will experience an economic challenge in the next number of years.

"I believe it's most likely that will lead to a lower level of economic growth with a risk in relation to how many jobs could be created or some lost. That will happen over the next two to four years."

Mr Donohoe said some spending pledges made in the programme for government may not be implemented.

HIKED

It's expected the Property tax could rise for certain homes, while college fees may also be hiked back up by €1,000.