The Government will have around €1bn for extra spending and tax cuts for October’s Budget.
This is according to the Department of Finance’s published updated forecasts this afternoon, known as the Summer Economic Statement.
The amount of spending leeway for the next five years is estimated at €11.3bn. This is the amount that remains after providing for demographics, the Lansdowne Road agreement and capital plans.
The so-called fiscal space will be based on a 2.1 split.
Growth this year is forecast to be 4.9pc. The deficit is expected to e bellow 1pc this year, Finance Minister Michael Noonan said.
Debt at the end of this year is expected to fall to 88pc of GDP.
Article Source: http://tinyurl.com/kbwqb42
- 21 Belvedere Place, Dublin 1
- +353 1 855 4188
- +353 1 836 6550
- 18 Oct 2018Half of female bosses can’t get funding, finds new report
- 15 Oct 2018Rising interest rates are expected to cool the market for wind farms
- 15 Oct 2018Budget picks
- 15 Oct 2018Irish food supplier Greencore to sell entire US business for €927m
- 12 Oct 2018Brexit the big cloud in bank’s forecasts for jobs and growth