Despite a growth in tax receipts last month, Ireland's Finance Minister Paschal Donohoe has warned of 'clear risks ahead' for the Irish economy. New figures published on Thursday confirmed that tax receipts amounted to €10.1bn in January, an increase of €2.3bn on the same month last year. The government also received another €1.7bn of Apple money owed from an EU ruling on unlawful state aid.
Finance Minister Paschal Donohoe has warned there are “clear risks ahead” for Ireland ’s economy despite a growth in tax receipts last month. New figures published on Thursday confirmed that tax receipts amounted to €10.
1bn in January. This is an increase of €2.3bn on the same month last year.In September, the Court of Justice of the European Union ruled that Apple had received unlawful state aid from Ireland and must repay €13bn plus interest.When the €1.7bn is excluded, underlying tax revenues in January were €8.4bn, up 600m on January last year.An Exchequer surplus of €1.8bn was recorded in January, down €400m on last year. This rises to €3.6bn when the Apple money is accounted for.Corporation tax receipts were described as “modest” at €90 million. It was added that January is “not generally a significant month for this revenue stream”. Finance Minister Paschal Donohoe warned that there are “clear risks ahead” that could impact Ireland’s finances. He said: “As a small open economy, Ireland is particularly vulnerable to changes in the global economic environment.“That is why Government has committed to using the once-off proceeds from the CJEU decision to improve our stock of infrastructure, as well as investing windfall tax revenues in the Future Ireland Fund to prepare for future challenges.” Public Expenditure Minister Jack Chambers, meanwhile, said that because of Budget 2025 measures introduced in January, such as increases to social welfare and the expansion of free school books, capital expenditure was 51.5% higher than the same month last year. Join the Irish Mirror’s breaking news service on WhatsApp. Click this link to receive breaking news and the latest headlines direct to your phone. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
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