Cumulative breaches of the rule will, in real money terms, be in region of €11 billion by the end of next year
Minister for Finance, Jack Chambers and Minister for Public Expenditure, National Development Plan Delivery and Reform, Paschal Donohoe speak to reporters on the publication of the Government's Summer Economic Statement 2024. Photograph: Stephen Collins/Collins Photos
The €6.9 billion hike in core spending earmarked for Budget 2025 also drives a veritable coach and horses through the Government’s own 5 per cent spending rule. “The Government has adapted its fiscal strategy to take account of this, to support the continued delivery of better healthcare services as well as accommodate higher capital spending,” Mr Chambers told reporters on Tuesday.
Non-core spending relating to ongoing Covid spending and supports for Ukrainian refugees is put at €4.5 billion in 2025 but, controversially, it is not included in the basic budgetary package despite the fact it is likely to persist.
Paschal-Donohoe Department-Of-Finance
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