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Budget 2024 will see €6.4 bill...

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Budget 2024 will see €6.4 billion in additional spending and tax cuts

RedFM News
RedFM News

04:39 4 Jul 2023


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Budget 2024 will see €6.4 billion euro 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 euro 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.


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