Public finance surplus projected to be over €4.4bn

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.

But these figures are where the public finances would end up if no decisions were taken on Budget Day next week. The widely anticipated significant increase in expenditure to counter the cost-of-living crisis will take a chunk out of the surplus figures. The paper also reveals that if the portion of corporation tax deemed to be a"windfall" or not expected was removed, there would be a deficit this year of €4.5bn and next year's surplus would be just €1.78bn.The Tánaiste Leo Varadkar has said people will see a"very significant" intervention by the Government to help people and their families and that the results would be in their pockets in a matter of weeks.

"We're in really uncertain times and dealing with a crisis caused by a huge war in Europe and we cannot be sure how long it will go on for," said Mr Donohoe in Limerick.

Record amounts of corporation tax.

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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. 👏👏
Source: rtenews - 🏆 1. / 99 Read more »

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.
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Public finance surplus of over €4.4 billion projected for this yearAs the Government makes the final decisions on next year’s budget, new figures project that the surplus in public finances this year will be €4.415 billion. Not a word about paying down national debt now but how we can spend the surplus & several years ago it was how future generations been burdened with the national debt. They are paying it down, by inflating it away. Things your never see with a SF government....
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