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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.
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.
Meanwhile 8000 army personnel in barracks with little to do all day…
@Aire Dezamba:
Its a nice thought ? You don’t expect the Army to to police hooligans on public transport Draft all the hooligans into the Army
@Alan Scott: no I am expecting them to get rid of the gangs and drug dealers.
@Aire Dezamba: it’s funny that so many areas there is no money for. Yet every budget , there is over an extra half billion for an already insane welfare spend …
An Garda Siochana have enough to tackle without being involved in the issues involving public transport. Ticket checks by inspectors on Dublin Bus are as rare as they’ve ever been. Anti social behaviour, drug use and dealing and fare evasion are rife on our public transport system and no Minister give a flying fcuk because they don’t use it, unless it’s first class service on Irish Rail. Meanwhile the general public run the gauntlet going about their business and hope they get home from their days work with their belonging in tack and their clothes odour free of smoke. It’s time for a dedicated transport police policy.
@Paul Linehan: I was on the luas going to Broadstone there was a ticket check on the way there and another one on the way back I returned on the red line with no sign of a check on either side.
@Alan Scott: To be fair to the Luas. I’ve seen plenty of ticket checks on both lines and security interventions for anti social issues.
FFS I’ve been saying it for years as it’s been everywhere else in the world for years. Fukin no brainer ideas take generations to be seen as sensible in this country.
@Pip: I’m not aware of any country apart from Britain with a transport police. NYC merged theirs with the NYPD some time ago
So the only alternative is when public service vehicle’s been stoned is to make all of the Communities suffer by pulling the service? You put that against Ministerial cars been stoned you will get a swift reaction from the Garda .Two sets of rules for the same job.
Cosy relationship with the government in the top brass of the Gardaí, any attempt to usurp the elite and offer another force to compare the performance of the Gardaí will obviously be met with reluctance. Charlie Flanagan acting as a mouthpiece for those in charge of the Gardaí. Why does the article not have a quote from the Garda commissioner on this proposal?
@BreadBasketCase: harbor police were disbanded against Garda wishes. Airport police are glorified security and an Garda siochana has repeatedly called for the airport police to become a fully fledged police force.
So really, your talking shite
Flanagan belongs in a retirement home!
Many thanks to all engaging in antisocial behavior on green luas and other posh “specific areas”. Without you this would never have been possible.
CCTV is great but it’s after the fact.
The value of Police presence is worth so much more.
Meanwhile they send 400 Garda to Donbeg,Co.Clare to “protect” Trump!
@F Fitzgerald Ne Reeves: when?
Full of sh*t
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