Economy

Up to €90bn in windfall tax could by saved by end of decade, government paper shows

The Minister for Finance says he is determined to set up ‘longer term saving vehicle’ to hold the funds

Michael McGrath “determined to ensure that we do not pass on a higher debt burden to future generations.”

The state’s new long-term national reserve fund to hold the corporation tax windfall could be worth up to €90 billion by the end of the decade, according to the Department of Finance.

Michael McGrath, the Minister for Finance, has said he is determined to set up a “longer term savings vehicle” to hold the corporation tax windfall.

The Business Post reported on Sunday that the long-term fund would be used to pay for the higher ...