Leading economist says Government can meet demands of cost of living crisis
A leading economist says the government is well placed to meet the demands of the cost of living crisis after exchequer figures revealed a €5 billion euro surplus in the nation’s finances for the past 12 months.
It compares to a deficit of €5.7 billion recorded to the end of July 2021, an improvement of €10.7 billion.
Economist Austin Hughes says the government has a a considerable degree of latitude as it prepares for budget 2023 in September:
“They suggest the Government has fairly substantial leeway to take measures in the upcoming budget to deliver support to households and businesses. When you look at the numbers now, a year ago, the government was expecting a deficit of €8 billion. I think we’re going to see a fairly substantial surplus instead this year.”