Summer Economic Statement

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06 July 2023

On Tuesday, 4th July, Government published the Summer Economic Statement for 2023. The statement in full is available to view here, with some of the key points including:

  • Budget 2024 will deliver an overall package of €6.4 billion and will be presented to Dáil Éireann on 10th October 2023
  • Additional public spending will amount to €5.2 billion and taxation measures will amount to €1.1 billion
  • Core spending will increase by 6.1% in 2024
  • An additional €2¼ billion over the period 2024-2026 to boost delivery of critical capital infrastructure projects and make a contribution to the existing Climate Action Fund
  • Exchequer figures show that tax revenues to end-June were €40.9 billion
  • This was 10.9 per cent higher than last year, reflecting the underlying strength of the economy, but also is heavily driven by volatile corporation tax receipts
  • Total gross voted expenditure to end-June amounted to €41.9 billion, €3.4 billion or 8.7 per cent ahead of the same period in 2022; this reflects support for our public services and our growing population, and the ramping up of NDP investment
  • An Exchequer surplus of €0.3 billion was recorded in the first half of the year;
  • On a 12-month rolling basis, the Exchequer recorded a surplus of €1.1 billion in June. However, excluding one-offs, an underlying deficit of €5½ billion was recorded on a 12-month rolling sum basis
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