Senior departmental sources play down media reports that budget package would be as large as last year’s
Mr McGrath and Mr Donohoe announced a budget package of €6.4 billion during the summer, consisting of €5.25 billion in spending increases and €1.15 in tax reductions. In addition, a large package of one-off measures is expected, intended as a response to increases in the cost of living. Last year, there was more than €4 billion in one-off measures, including energy credits and welfare payments.
“By then we will have the Q3 exchequer returns and a better sense of whether recent weakness in tax returns is a blip or possibly a turning point,” the source said.
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