One week to Budget 2024 and expectations are running high. Rumours, leaks and kite-flying have been coming thick and fast since April when it was revealed that the State is set to enjoy a budget surplus of a record €65 billion over three years; in 2023 alone there’s been a €10 billion surplus.
That should, in theory, help solve the numerous problems facing citizens and the spending difficulties facing many Government departments.
But it’s not that simple. The need to curtail inflation, as well as the inherent unreliability of our corporation tax take, mean that Budget 2024 will be more conservative than last year, when billions were spent to alleviate the soaring cost of living.
Nevertheless, modest tax cuts and lots of new spending are expected. Cliff Taylor, whose columns have been teasing out the issues facing Minister for Finance Michael McGrath and Minister for Public Expenditure Paschal Donohoe, came into the In the News podcast studio to give a Budget 2024 primer.
Presented by Bernice Harrison. Produced by Declan Conlon.
