Minister for Finance Michael McGrath is expected to tell Government that inflation this year will average between 4% and 5%, down from the current rate of 7%.
MINISTER FOR FINANCE Michael McGrath is expected to tell Government that inflation this year will average between 4% and 5%, down from the current rate of 7%.
The economic projections, which have been approved by the Fiscal Advisory Council, will include an estimate of expected inflation for this year and subsequent years. Considerable attention is likely to focus on the projected corporation tax take, which is currently at record levels and has performed strongly in the first quarter of the year.
McGrath has said he will bring forward proposals for a longer-term fund for windfall corporation tax receipts.A budget surplus for 2023 was forecast at €6 billion in the Budget, but this is expected to increase given the stronger than expected tax receipts.
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