THERE WILL BE a record general Government surplus of approximately €25 billion recorded this year.

The massive figure is more than double what was projected and includes the €14 billion windfall fund from Apple’s unpaid tax - all of which will be recorded in the State’s accounts for this year.

This surplus will help Minister for Finance Jack Chambers and Minister for Public Expenditure Paschal Donohoe afford a number of one-off payments in what is expected to be a bumper budget, which they will announce on Tuesday.

A total of €105.4 billion in expenditure is already being made available in Budget 2025. 

It includes reported cuts and alterations to USC and income tax bands, increases to the State pension, investment in childcare, transport and infrastructure and expansions and adaptations to existing housing schemes.

But, speaking to reporters this evening, Chambers said he did not expect the planned cost-of-living package to be of the same scale as last year, given that inflation has fallen.

He did acknowledge, however, that there are still impacts as a result of high prices from underlying inflation which he hopes will be targeted through the planned package of supports.

The Department of Finance will publish its ‘White Paper’ this evening, which will project the Government’s tax take and expenses next year. This will give a final view of the State’s expenses ahead of the Budget announcement.

The figures will not include measures to be announced in the Budget.

Apple Money

Though the Apple tax makes up a great portion of the surplus, a record high of €30 billion in corporation taxes to be recieved by the State this year – €5.5 billion more than expected – is what the ministers will be largely reliant on for spending at the Budget.

This is because only €8 billion of the Apple escrow fund will be injected into the exchequer this year while the remaining €6 billion will be accrued next year.

For accounting purposes, however, all €14 billion of it will be on the State’s books this year, Chambers explained.

Chambers said Government will not be using the Apple tax fund for day-to-day expenses or to narrow the tax base, but instead the ministers will take “a wider, strategic view” on how it can assist the economy, strengthen competitiveness and invest in infrastructure.

“That has to be done carefully with proper economic assessment, and that’s why we’ll be careful in the management of that,” he said.

He added that the “strategic direction” of the use of the Apple money will be announced on Tuesday.