At least half of all Corporation tax could be a one-off, Minister for Finance warns
Minister for Finance Michael McGrath TD warned the corporation tax take may not be sustainable. Dublin, Ireland. Photo: Sam Boal/Collins Photos
Minister for Finance Michael McGrath outlined to the Budgetary Oversight Committee that corporation tax rose by around 5 per cent last year compared to 50 per cent in 2022 “so there has been a very significant slowdown”. Mr McGrath warned that the corporation tax receipts are “not linked to our domestic economy and could potentially be transient”.Prime south Dublin sites with residential potential for €4.75m and €2.75mInflation in April was 1.6 per cent which is one of the lowest rates in the Euro area and modified domestic demand , which is the preferred measure for the domestic economy, is seen increasing by 1.9 per cent this year. Next year MDD growth will accelerate to 2.3 per cent.
Independent Galway TD Sean Canney said there is a “huge gap in the market” in terms of private housing. There is only one private scheme happening in the whole county of Galway, he stated. “Every other developer who is buying a site goes to the local authority or a housing body to see if we can do with a deal with him because a developer cannot get the funding otherwise.”
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