The Irish government will tomorrow announce cautious and caveated plans for reopening their economies as their vaccination programmes reach a critical mass of the population. Owing to the faster rollout of vaccines in the UK, it may be about one month ahead of Ireland in its reopening.
Details on the plan in Ireland are less clear than the UK, with a phased reopening of schools from March 1st, but the reopening of hospitality mooted for mid-summer by the Taoiseach over the weekend. The difference in the reopening timelines is due to the slower progress of vaccine rollout in the EU. Twenty five percent of the UK population has received at least one vaccine dose to date, relative to just 4% in Ireland.
Goodbody Stockbrokers say given the uncertainty around the virus and possible mutations, the UK’s plan to base its reopening around several key metrics makes perfect sense. According to Goodbody Stockbrokers, "The dance that governments are performing now is attempting to maintain caution while offering hope. It is patently clear though that there will be no big bang in the journey back to “normal”. A cautious reopening thus requires a cautious removal of government supports."