Politics

Analysis: €10bn corporate tax bonanza turns up pressure for more energy crisis supports

While the windfall has shared up the state’s finances, officials are worried reliance on the money will lead to problems down the road

Paschal Donohoe, the Minister for Public Expenditure, looks on during a press conference with Michael McGrath, the Minister for Finance. Picture: Collins

Michael McGrath and Paschal Donohoe swapped jobs over the Christmas period but the New Year message from both of them is still the same when it comes to the corporation tax windfall.

The newly released exchequer returns for last year show there was a surplus of €5 billion, which is an astonishing turnaround from the budget deficit of €7.5 billion in 2021.

It was driven by a surge of €7.3 billion in corporation tax which ...