Next year, the surplus is projected to reach almost €12bn but this is before any decisions are made in next week's Budget.As recently as July, the Government had revised its forecasts from a deficit this year to a small surplus of around €1.2bn.
Next year, the record corporation tax receipts are expected to continue boosting the projected surplus in 2023 to €11.78bn. The White Paper also reveals an increase in the cost of servicing the national debt, a reminder that times are changing for indebted governments.
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Public finance surplus projected to be over €4.4bnThe surplus in the public finances this year is projected to be just over €4.4 billion according to the Department of Finance. Next year, the surplus is projected to reach almost €12bn but this is before any decisions are made in next week's Budget Put it under the mattress, don't put it into the banks. The global economy is inching over a cliff and it's a long way down. There's a storm coming and we can't spend our way out of it. Great opportunity for government to invest in those key challenges that will become systemic threats to our democracy if left unaddressed. Start with a mass land acquisition and vacant buildings program an build homes in sustainable communities. 👏👏
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