Receipts will help equip Coalition with cash surplus as pressure for spending hikes grows
“Half of the corporation tax receipts are windfall in nature and we can’t rely on these,” Mr McGrath said.
In addition, the Department of Finance chief economist, John McCarthy, warned repeatedly of other “downside risks”, including inflation, financial sector turbulence and escalation of the war in Ukraine. Headline inflation in Ireland is projected to fall to 4.9 per cent this year, further moderating to 2.5 per cent next year.
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.
Michael McGrath tampers Budget expectations after last year's massive giveawayThe Stability Programme Update (SPU) published on Tuesday afternoon predicted a €10bn Budget surplus for 2023. Next year's surplus is calculated at €16bn.
Read more »
Extra 40,000 jobs to come on stream this year despite ‘powerful headwinds’Exchequer surplus of €10 billion expected at the end of 2023 due to receipt of windfall corporation tax receipts
Read more »
Government expecting exchequer surplus of €16 billion next yearTotal figure however will be scaled back to €4.4 billion once windfall corporation taxes are excluded
Read more »
Economic document set to forecast large budgetary surplus for StateStability Programme Update expected to indicate corporation tax receipts for year will exceed 2022′s €22.6bn
Read more »