"If there is serious and persistent disruption to energy supplies, with oil prices rising to about $150 per barrel, the end-year inflation rate will be significantly higher, and the price spike will continue into next year, with an average rate of 5pc."
"The State will take in €110.8bn in tax this year, with nearly one third of it, €35.3bn, coming from the corporate sector. A corporate tax take of €35.3bn would be €2.3bn or 7pc higher than last year's record haul."
"Income tax receipts are expected to be €38.9bn, which would be €2.4bn or 6.5pc more than last year. This reflects the continued growth of employment, and the pay increases being awarded to workers."
"The Government has decided to increase the expenditure ceiling to support households and firms during the energy price shock and to provide additional funding to the Department of Education and Youth in 2026 for measures such as increased supports and staffing in the sector."
A severe disruption to energy supplies could push oil prices to $150 per barrel, resulting in an inflation rate of 5%. The Government's economic report revised the inflation forecast from 3.3% to 3.75% due to the Middle East conflict. Tax revenues are projected at €110.8bn, with corporate tax contributing €35.3bn, a 7% increase from last year. Income tax receipts are expected to rise by 6.5% to €38.9bn. Increased tax revenue will be countered by a €0.7bn rise in expenditure, leading to a total of €118.5bn in spending.
Read at Irish Independent
Unable to calculate read time
Collection
[
|
...
]