Govt to record surplus of between €23bn-€24bn this year

http://www.rte.ie/news/budget-2025/2024/0927/1472381-budget-white-paper/

Posted by badger-biscuits

25 Comments

  1. Between corporate tax and Apple windfall, this is mostly once off.

    Surely it’s got to go to infrastructure, rain day funds and debt paydown. Anything else would overheat the economy

  2. So they’re going to mass build social housing, invest in rail and public transport, and fix our health system….right?

  3. Holiday_Toe5779 on

    More houses then?
    Fix the HSE then?
    Eliminate USC then?
    Better childcare provisions then?
    Finish the fucking NCH then?

    LOL jk

  4. Are Apple just going to write the gov a cheque and that’s that? I suspected there would be another 4 rounds of appeals then a 10 year repayment plan meaning by the time we get 13bn, it will buy 2 Guinness in Temple Bar.

  5. Mad that this money is sat somewhere not being used for anything, a colossal act of irresponsibility, incompetence and dereliction of duty.

  6. Enough to pay France to build us a 4GW nuclear power station beside where Moneypoint is right now.

  7. They’re going to do something stupid with this, we don’t need any more tax breaks.

    Increase nurses,doctors, teachers and gardai’s pay, clear the waitlist for kids with scoliosis, train more dentists, orthodontists and GPs (literally set them up with free offices or something because my GP waitlist is nearly 1 month long) build more social housing (don’t just give HTB incentives as they dont work well) and if there’s any left over lump it inot that investment fund thing we have now.

    All these stupid tax breaks they are giving us will do nothing in the short term, and in the long term will put us in a worse position for the pension time bomb.

  8. A surplus like this would have unthinkable years ago. It’s a welcome from the grim days of budgets when you’d be bracing yourself of what would be cut, or which taxes would be raised.

    Now we are running a surplus and people, lots of them here, still find loads to moan about with it. This sub sometimes gives a vibe that we have a swathe of people who only really remember positive budgets and situations similar to this. Not the dreaded budgets of old. And so they moan for moaning sake.
    It honestly boggles the mind.

  9. Willing-Departure115 on

    The issue with investing it all is that the economy is running at capacity. If we said “let’s build x”, who is going to build it who isn’t already tied up in other projects? So you end up raising the price of things without necessarily getting a lot of extra work done.

    There are ways to increase capacity (see gulf states or Australia or Canada, which import workers at great expense) but they are themselves complex and expensive to do (would we live with having an army of Indian / Asian temporary workers living in mass temporary accommodation to build houses for us…?).

    Blowing the surpluses on narrowing the tax base seems a poor idea, given how much of the surplus is one off or transient in nature.

    We should invest, grow the money, and deploy it as stimulus the next time there’s a recession. Keep construction workers going instead of emigrating next time.

  10. In 1999 total tax receipts were around 23 billion for comparison. The surplus for this year equals the total tax take from 25 years ago.