Budget 2024 will see €6.4 billion in additional spending and tax cuts.
The Summer Economic Statement has been published revealing the Government will spend an extra €5.2 billion, with €1.1 billion allocated for tax cuts.
Of that, €3.2 billion is already allocated – meaning there will be a €2 billion pot for new spending measures.
That means an overall increase in core spending of 6.1% – in breach of the Government’s spending rules which had limited expenditure hikes to 5%.
The Department of Finance has also revealed the overall tax take was up almost 11% through the first six months of the year at nearly €41 billion.
That includes a 20% increase in corporation tax take.
