Tax

More windfall tax gains could be earmarked for new wealth funds, says ESRI

Government announced plans to create a €100 billion savings fund from Ireland’s windfall corporation taxes in Budget 2024

Michael McGrath, the Minister for Finance, said that there appeared to be a "levelling-off" of the growth in corporation tax compared to the extraordinary levels in recent years. Picture: RollingNews.ie

A greater amount of windfall corporate tax gains could arguably have been earmarked for two new wealth funds established as part of Budget 2024, the Economic & Social Research Institute (ESRI) will tell politicians on Wednesday.

Last week, the government announced plans to create a €100 billion sovereign wealth fund from Ireland’s windfall corporation taxes, while a smaller infrastructure and climate fund worth €14 billion which will be used to support capital spending in the ...