Bumper taxes, less spending on income supports will reduce budget deficit, says Ifac

Irish Times | Sep 15, 2021 at 2:04 AM
  • Stronger tax receipts combined with lower spending on wage supports will result in a smaller-than-expected Government budget deficit of €15.5 billion this year.
  • In its latest assessment, the council is critical of the Government’s revised budgetary strategy outlined in its recent summer economic statement (SES), which envisages higher spending and bigger budget deficits out to 2025, facilitated by an additional €18.8 billion in borrowing.
  • In its statement, it commended the Government for establishing new, more transparent estimates of its future spending plans in the SES.