DAVY VIEW

Overnight, Irish media reported that the Cabinet sub-committee on COVID-19 has decided to extend lockdown restrictions to April 5th, which will be announced today. Meanwhile, Pandemic Unemployment Payment (PUP) claimants fell for a second successive week to 473,400 – indicating the labour market damage from the third lockdown has plateaued. However, with €1.7bn already spent on household income supports in 2021, the fiscal cost is rising.