Ireland needs to find a way to navigate between necessary caution on one side and the need to plan and invest for the future on the other
Minister for Public Expenditure Paschal Donohoe and Minister for Finance Jack Chambers are working with a budget surplus of €20 billion. Photograph: Eamonn Farrell/RollingNews.ie
Public confidence has been undermined by slow delivery to date and the latest fiascos over the bike shed, the security hut and the national children’s hospital It is, of course, a lot better to be facing these issues with a big surplus than with a yawning deficit. France is reportedly going back to the European Commission to ask it for more time to get its budget in some kind of order.is battling black holes and a rising national debt. Ireland entered Covid with its public finances in surplus, which has given vital leeway over the last few years. Now the finances are back in the black.
At some stage, too, financial pressures will re-emerge – by 2030 the costs of an ageing population will be sharply on the rise, for example, and there are huge costs from combating and adapting to climate change. Some of the surpluses now can be set aside to help pay for this and ensure investment can continue over a five- to 10-year time horizon.
Budget Paschal-Donohoe Jack-Chambers
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cliff Taylor: Ireland is at a turning point in its relationship with multinationalsApple’s windfall cash will help fund State investment, but promises about top-class education and abundant water count for little without delivery
Read more »
Cliff Taylor: Boomers are better off and calling the political shots, while younger generations are strugglingSoon, when the tax boom bottoms out, there could be an epic battle over who pays the bills
Read more »
Cliff Taylor: Record surplus of €25bn sets Government up for budgetRight now, the State is awash with cash but an ageing population and climate change will require higher spending in the medium term and possibly higher taxes
Read more »
Cliff Taylor: Our population is booming but can the State cope?By the next decade the numbers living in the Republic could top 6 million
Read more »
Cliff Taylor: Number of households earning over €100,000 has quietly soaredThe economic and earnings base has been transformed, which helps explain the housing market
Read more »
Ireland's top-rated destinations: Dingle Peninsula, Kilkee Cliff Walk and moreSummer may be over but a trip to some of the stunning scenery around Ireland is something you can do any time of the year - here are the top rated spots for tourists
Read more »