Tax & Spend
Irish Corporate Tax Surge Opens Up €6.4 Billion Budget Package
- Infrastructure spend boosted by €2.25bn of windfall taxes
- Much of tax windfall to be saved in new sovereign wealth fund
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Ireland will unveil a tax and spending package of €6.4 billion ($7 billion) in its forthcoming budget as strong corporate tax receipts continue to bolster public finances.
Finance Minister Michael McGrath said the government would boost government spending by €5.2 billion and introduce a new package of just over €1.1 billion in tax cuts in October’s budget.