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by Mediateam
Surplus of €16.2 billion predicted for State next year
Talk of stretched budgets has become sadly commonplace in the past year, as cost-of-living increases continue to hit shoppers’ pockets. So as ShelfLife headed to print, it was refreshing to see that at least one (rather important) budget is looking altogether perkier!
A surplus of €16.2 billion is predicted for the State next year, according to the government’s latest economic forecasts and projections for the public finances. The figures underline the extent to which the government will have significant cash to spend in the Budget and next year as it prepares for a general election, expected in the second half of next year or early 2025.
The document predicts an exchequer surplus of €12.9 billion for next year. However, when other factors, including a large surplus in the social insurance fund are included in the calculations, the General Government Balance - the figure used by the EU - is expected to be €16 billion.
However, these figures are likely to be adjusted later in the year when spending decisions for next year are made. The surplus is driven by continuing strong corporation tax receipts. The projected surplus for this year is likely to be about €10 billion, including transfers to the government’s rainy day fund.
Speaking of government plans, in this month’s issue we had an exclusive opportunity to interview Minister for Retail Neale Richmond on his intentions for the sector; turn to page 22 for more details.
Gillian Hamill, editor, ShelfLifemagazine
16 Always Nearby: Gillian Hamill sits down with Jason McSteen as he reflects on a momentous two years during which Nearby has reached more than 130 stores
22 Ministerial priorities: ShelfLife spoke to Minister Neale Richmond to gain a greater understanding of his outlook and the issues he is prioritising to support Ireland’s retail sector
24 Value Centre store profile: John McMahon of Value Centre Ennis, Co. Clare speaks to Fionnuala Carolan about the history of the business and its bright future ADVISOR
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