'The worry is that the reliance on corporate tax now is similar to a modern-day equivalent to the importance of stamp duty during the Celtic Tiger.'
So it has gone for the government for the last two years in-a-row.
This will likely go to areas such as welfare increases and tax cuts, measures which can’t be easily undone. However, these are constant issues which will crop up every year, and so don’t quite explain why the government is breaking the spending rules again. “Given that inflation is expected to remain above 2 per cent next year, the government is also adjusting its fiscal parameters for Budget 2024.”It essentially argues that higher spending is needed to provide support for people struggling with the cost of living, such as the energy subsidies rolled out last year.
Full employment Michael McMahon, the organisation’s acting chair, said the government’s decision to keep spending could actually be harmful in the long run if it causes inflation to linger.
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