The Stay and Spend scheme which is being introduced now encourages you to go on a staycation, spend your money there and then claim up to 125 euro back in tax credits.

Of course that’s only applicable to taxpayers - meaning students, workers with lower income and retired people wouldn’t be able to avail of this. 

To discuss this further, Kieran Cuddihy was joined by Richard Boyd Barrett, Solidarity-People Before Profit TD for Dun Laoghaire and Dan O’Brien, chief economist of the Institute of International and European Affairs.