Irish deputy PM says sees economy improving 'later in summer'

• There are currently 730,000 people unemployed in Ireland and 130,000 people having 70pc of their salaries subsidised by the government, Coveney said.

"We have to make sure that the rising (economic) tide, that will start later in the summer I suspect, will lift all boats," Coveney told RTE radio. "But that won't be easy and the state is going to have to borrow a lot of money and run significant deficits for period of time."

There are currently 730,000 people unemployed in Ireland and 130,000 people having 70pc of their salaries subsidised by the government, Coveney said.