The Government is preparing a €5 billion package for its final Budget before the next General Election. This includes a significant tax and spending bundle, with details reported by the Sunday Business Post.
According to Irishmirror, Finance Minister Jack Chambers and Public Expenditure Minister Paschal Donohoe have been finalizing the Summer Economic Statement, set to be published tomorrow. This statement will outline the spending parameters for Budget 2025.
Key elements of the package include an increase in core spending by at least €4 billion compared to Budget 2024 and a €1.15 billion tax package. Additionally, there is expected to be a provision for €4.5 billion in non-core expenditure, consistent with previous years. This non-core spending will fund Covid-19 measures and refugee support.
Minister Chambers also announced that Budget 2025 will be presented one week earlier than usual, on October 1. He cited ministerial duties in Europe the following week as the reason for this change, denying it was to accommodate an earlier General Election date than the expected March timeframe.