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Sparce Fiscal Room For Irish Budget Tax Cuts

by Jason Gorringe, Tax-News.com, London

19 April 2018


The Irish Government will have limited fiscal space available for either tax cuts or new spending measures in its next Budget, according to its latest Stability Programme Update.

The document shows that the Government has committed EUR2.6bn (USD3.2bn) to spending increases in 2019. Most of this sum will cover capital spending increases and the remainder will be put toward carry-over costs associated with the previous Budget, public sector pay, and "demographic-related" costs.

The Update notes that tax revenues are forecast to rise by 5.7 percent this year. In the first quarter of the year, tax receipts were up 3.5 percent year-on-year but down 1.2 percent on target.

TAGS: tax | value added tax (VAT) | Ireland | revenue guidance | public sector | revenue statistics

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