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Fears coronavirus could cost Irish state €30 billion as confirmed cases continue to climb

Deputy Chief Medical Officer Dr Ronan Glynn speaking at yesterday's daily Covid-19 briefing in Dublin.
Deputy Chief Medical Officer Dr Ronan Glynn speaking at yesterday's daily Covid-19 briefing in Dublin. Deputy Chief Medical Officer Dr Ronan Glynn speaking at yesterday's daily Covid-19 briefing in Dublin.

THE cost to the Republic of dealing with coronavirus could reach €30 billion, as deaths across the island reached 115 yesterday.

Deputy Chief Medical Officer Dr Ronan Glynn said 212 new cases have been reported in the south, with another 14 deaths linked to the virus.

The total number of deaths now stands at 85 from a total of 3,447 cases.

There were two more deaths confirmed north of the border, bringing the total to 30.

Dr Glynn told reporters that testing will be ramped up within two weeks in order to get a clearer picture of how many people actually have coronavirus, and he expects cases to rise to reflect this.

"We have been very open that at present, we are not carrying out as many tests as we would like to be, or as we had intended to be carried out at this point," he said.

Austin Hughes, chief economist with KBC Bank Ireland, said he estimates the total cost to the Republic for dealing with the pandemic could be as high as €30 billion.

The bank had previously estimated a €15 billion bill, but Mr Hughes said: "Our sense is that 'reboot' measures on a scale likely to ensure a strong and speedy rebound could amount to a further €10-15 billion, implying the overall fiscal impact for Ireland of Covid-19 could be comfortably in excess of 10 per cent of GDP."

Meanwhile, at Stormont, the First and Deputy First Minister responded to expert modelling which suggests the north could see up to 3,000 deaths over 20 weeks.

A worst-case scenario model shows a peak of 180 patients requiring ventilation and critical care beds, but without the public adhering to social distancing that number is predicted to be higher.

DUP leader Arlene Foster said: "The death toll would be about 500 people short of the lives lost during the Troubles.

"The loss of each of those lives is a huge blow, not only to their families, but of course to the communities from which they come from.

"In a small tight-knit society like ours we are all likely to know someone who will be impacted, and it will be a cruel blow."

Sinn Féin's Michelle O'Neill also said the modelling was alarming.

"People will be concerned, it's a scary prospect for all of us but particularly for those older people and people who are vulnerable," she said.

In London, the UK Government is coming under increasing pressure over Covid-19 testing following the biggest day-on-day rise in deaths so far.

Some 2,352 patients had died in hospital after testing positive for the virus as of 5pm yesterday, up by 563 in 24 hours.

It comes as Downing Street said more than 2,000 NHS staff have been tested for coronavirus.

Around 8,000 tests are currently being carried out each day across the UK even though ministers previously claimed a target of 10,000 had been hit.