New funds for climate action, infrastructure and long-term savings will also be part of a huge spend and save budget to be unveiled by the Government
New funds for climate action, infrastructure and long-term savings will also be part of a huge spend and save budget to be unveiled by the Government. A proposal was also being considered that would see landlords get tax breaks worth €600, rising to €1,000 over time if they stay in the market. There will also be an additional €4 billion in “non-core” spending which has already been largely signalled. Most of this is to pay for housing Ukraine refugees, but there is also an amount for the Brexit adjustment fund and for post-Covid spending in health. This brings the total size of the commitments in the budget to around €13 billion, though the non-core elements are expected to be temporary.
A new savings fund will benefit from the rest of the windfall corporation tax receipts, and will be in addition to the existing €6 billion “rainy day” fund previously established by the Government.