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Irish budget: Help with energy and childcare costs, while income tax threshold goes up

Much of that additional spending is “standstill” funding to cover the rising costs of current services.

Ireland is in a stronger fiscal position than most European countries as an ongoing corporation tax windfall means it is collecting more in taxes than it is spending on services.

Figures released last week showed the country is expected to run a surplus of €6.9bn (£5.84bn) this year, lower than the €9.2bn (£7.79bn) forecast in April.

That smaller forecast surplus reflects the introduction of fuel supports and additional spending to cover budget overspends, particularly in health.

Some of the surplus is being invested in national wealth funds to help with future spending commitments.

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