Leo Varadkar says ‘rainy day fund’ should be Budget 2023

The Tánaiste says a rainy day fund should be restored into the next budget.

Yesterday, Ministers agreed to bring Budget Day forward to September 27th, two weeks earlier than expected.

There’ll also be an increased package of €6.7 billion to help offset the cost-of-living crisis.

Leo Varadkar says if there’s any money leftover from corporation tax intake, then it should be put aside:

“If we have a very substantial surplus this year, it’s 4 billion this year so far and we don’t know where it’s gonna land. Yes, we should give some of that back to people to help with the cost of living, and we should put some of it away as well, but that’s only if we have a surplus. I don’t think it makes sense to put money away in a rainy day fund if you’re actually borrowing money at the same time, that’s not logical to me. But if we are in a surplus, I think it does make sense to put some of that aside.”


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