budget 2024

Budget 2024: Economists and financial policymakers call for restraint

The main question about this year’s budget is whether the government will stick to its own rule and limit annual spending growth to 5 per cent

Paschal Donohoe, the Minister for Public Expenditure, and Michael McGrath, the Minister for Finance, will recommend a spending increase figure to cabinet. Picture: Collins

As many commentators have pointed out over recent months, the government has a “good headache” this year as it tries to decide how best to spend the billions of euro in surplus income available from the public finances.

Thanks to soaring corporate tax receipts, the government is forecast to generate a surplus of more than €10 billion this year and over €16 billion next year.

Never before in the history of the Irish state has ...