Economists expect that the cost of the supports will be higher than €3.7bn over the 12 weeks. He said the costs of the business supports will quickly increase as more people lose their jobs. Neil Gibson, chief economist at accountants EY Ireland, said that a prolonged shutdown lasting more than 12 weeks is increasingly a realistic outcome. EY estimates a peak of 675,000 people will lose their jobs in Ireland, an estimate that does not include the construction workers who will lose their jobs. In the North, he estimates 257,000 people will lose their jobs under a prolonged lockdown.

Source: Irish Examiner March 30, 2020 18:33 UTC