- Today’s budget was set against the backdrop of a continuing high level of inflation, though it is well down from last year’s peak, with the annual HICP rate now running at 5.0%.
- The cost of the package at €2.7bn, is also down from the €4bn in supports announced in last year’s budget,
- The budget also provided for the usual broad array of increased spending across Government departments. In total, core government spending will rise by €5.3bn or 6.1% in 2024, which includes an 8.8% increase in capital expenditure.
- The Dept. of Finance is expecting a general government budget surplus of €8.8bn, or 3% of GNI* in 2023, up slightly from €8.5bn last year.
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