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Government Expects €10 Billion Budget Surplus This Year

The Government is expected to announce a €10 billion surplus in State finances this year. Ministers...
Caoimhseach Connolly
Caoimhseach Connolly

10:21 AM - 4 Jul 2023



Government Expects €10 Billion...

News

Government Expects €10 Billion Budget Surplus This Year

Caoimhseach Connolly
Caoimhseach Connolly

10:21 AM - 4 Jul 2023



The Government is expected to announce a €10 billion surplus in State finances this year.

Ministers Michael McGrath and Paschal Donohue will publish the Summer Economic Statement later today.

However, the Finance and Public Expenditure Ministers are expected to outline that much of the extra money is coming in through Corporate Tax, which they say can't be relied upon into the future.

While negotiations on the budget will get underway in the coming weeks it's expected there will be more demands than ever, with every Department staking a claim to some of the rising revenues.

The Children's Minister Roderic O'Gorman, says he wants to extend childcare savings schemes announced in last year's Budget to parents with childminders.

It comes amid reports that there will be a push for a 25% cut to childcare costs, along with a DEIS-style scheme for early years care as part of Budget 2024.

Minister Roderic O'Gorman says parents who use childminders didn't have the opportunity to benefit from investment and funding announced as part of Budget 2023.

"I'll be pushing for as significant of cuts for parents as I can get. The difference this year is that we're looking to spread out the benefits in terms of particularly looking to include parents who use childminders.

"They weren't able to benefit from the cuts last year and I'd like them to be able to experience cuts as well because childminders obviously offer a degree of flexibility to many parents".



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Budget 2023 Budget 2024 Childcare Childminders Economics Economy Government Spending Minister Michael Mcgrath Minister Paschal Donohue Minister Roderic O'gorman Parents Summer Economic Statement Tax

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