Europe

Donohoe avoids promising amounts for one-off cost-of-living packages

Finance Minister Pascal Donohoe said he could not yet commit to the value of the government’s temporary cost of living package due to be announced next month.

The 2023 budget is to include measures worth a total of €6.7 billion.

Apart from the budget, the government will also announce a temporary measure cost of living package, which it said will be announced at the same time.

“We cannot yet give an indication of the scale or nature of the temporary measures,” Donohoe told reporters in Dublin.

“We expect the government to reach agreement on the scale and nature of these measures much later in September.”

Donohoe added that a “key factor” in determining these measures would be the state’s tax revenue in August.

The government announced a surplus of €5 billion in the first half compared to expectations at the beginning of the year.

This compares with a deficit of 5 billion euros for the same period last year.

Mr Donohoe reiterated Ireland’s over-reliance on corporate tax revenues and said €3 billion of this surplus came from corporate taxes.

He added: Those reforms are happening — and they’re about to happen.

“The government has not yet considered how we will use our response to the higher level of corporate tax that we are currently collecting. Discuss.

“But I think we need to be very careful about how we spend money that we may not have again in the future.”

Regarding whether we need to limit energy supplies this winter, Donohoe said: It’s worth saving energy now. “

“But this is a really dynamic situation. It’s changing very quickly when it comes to energy supplies to Europe,” he said, with ongoing reviews by the government, especially as winter approaches. added.

https://www.breakingnews.ie/ireland/donohoe-avoids-committing-to-figure-for-one-off-cost-of-living-package-1348321.html Donohoe avoids promising amounts for one-off cost-of-living packages

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