Michael McGrath warns Government will need to be cautious when framing Budget 2024
Minister for Finance Michael McGrath speaking to the media during a Fianna Fail party event at the Horse and Jockey Hotel in Thurles, Co. Tipperary. Photograph: Cillian Sherlock/PA WireAt the Fianna Fáil think-in, Michael McGrath. Ireland has benefited from an explosion in these receipts in recent years. They have risen from €4 billion in 2015 to a forecast €24 billion this year, greatly benefiting the exchequer and helping Ireland’s budget to move into strong surplus.
There had been an unexpected jump in August 2022 so some decline was anticipated, but the extent of it surprised Government officials. This puts a lot of focus on November, the key month for corporate tax payments. This comes after October’s budget- and McGrath will use this in negotiations with Cabinet colleagues, warning that a cautious approach is essential.We just don’t know.
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