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WITH DAYS TO go until Budget 2024, new figures have shown that the surplus in public finances this year will be €9.620 billion.
The Department of Finance’s annual White Paper, published ahead of the budget every year, shows that Ireland’s finances remain in good health, despite being below projections made earlier this year.
Looking ahead to next year, the surplus is projected to reach €12.535 billion.
According to the paper, corporation tax receipts are expected to come in at €23.5 billion for this year, compared to an expected €24.3 billion.
This comes after it was announced that corporation tax in September came in below the Department’s estimate for a second consecutive month, with €14.4 billion collected in the first nine months of the year.
The Finance and Public Expenditure Ministers previously said they had €6.5 billion to play with in the budget, however in a statement he said he will unveil a plan on Tuesday setting out what the Government intends to do with the projected surpluses for the years ahead.
McGrath has been under pressure to dampen expectations as to how much can be spent on addressing the cost-of-living crisis being felt by people across the country.
Much of what is expected to be announced on Tuesday has already been leaked, with all eyes set to be on the controversial Universal Social Charge (USC) after Tánaiste Micheál Martin confirmed that cuts are to form part of this year’s budget.
Last year the ceiling of the second USC rate band increased from €21,295 to €22,920 to “support those on minimum wage” but this year it could be the case of widening out the 2% band to move in line with an expected increase in the minimum wage next year.
The renters’ tax credit of €500 for tenants who are paying rent in respect of their principal private residence is also set to increase, though perhaps not to the €1,000 which was first mooted. The credit is likely to increase to just under €800.
However, one promise that is being rolled back on this year is the promised 25% reduction in weekly childcare fees.
Last year’s announcement was worth up to €175 per month or €2,106 per year for parents, and while it had been widely expected that the October budget would deliver a further reduction in fees, uncertainty surfaced within government over whether such a reduction could be achieved.
Tánaiste Micheál Martin also cast further doubt on the prospect of further 25% reduction at Leaders’ Questions on Thursday, when he failed to confirm that the measure would be included and simply stated that “budget negotiations are underway”.
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Do all the toe rags end up in spain.
fun in the sun (with a gun) sorry hun for the pun
U ok Hun?
Malaya as in Malaysia ? Off the topic
They can keep her.
Mad how they’re all in Marbella and Porto Banus. Torremolinos amd Benalmadema are now becoming the nicer safer resorts.
All of the Irish trash over in Spain, that’s open borders for you, the Spanish should have stricter border controls and stop Irish Christians going over there and becoming involved in criminality and drug-dealing, if the Irish can’t respect the local laws and customs they should be shipped back to where they came from. Check out this video of Irish Christians bringing their debauched lifestyle to the Costa del Sol in Spain, is this what we want to happen in our country with open borders? https://www.youtube.com/watch?v=-9p7Ur15IdA
That sounds fair enough, dude.
Excellent stuff Dick. Top marks.
Breaking my resolve not to comment but love this from Richard!
Spoh on Richard if Joe Stalin was still around the drug pushing parasites wouldn’t have an easy life he said one time if a man is causing problems in a community the answer is to put that man to sleep, no man no problem, so simple, yet I’m hearing on radio every day where decent people are selling their homes to pay off debt to these parasites and where the gardai tell them there’s nothing they can do to help. Unbelievible, if Michael Collins or any of those men who stood with him were around today they wouldn’t hesitate to put those parasites to sleep and they certainly wouldn’t be cowed by PC
You’re judging your justice on a dead man. The day has changed. The forces who wish to act are constrained by the people who harp on about the past. They elevate the past while living in it and denegrate the present. You can’t have your cake and shit on it at the same time.
Good……work together and get them all. Women incl
There is clearly a cultural problem with the Irish, they are constantly involved violent crimes. Europe should close the borders to the Irish until they learn to adhere to European culture.
have your say