Pre-budget boost from soaring corporation tax receipts

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Corporation tax receipts are set to exceed forecasts this year and next, creating a pre-budget boost or headache for ministers Jack Chambers, left, and Minister Simon Harris, depending on your point of view. Photograph: David Young/PA Wire
Corporation tax receipts are set to exceed forecasts this year and next, creating a pre-budget boost or headache for ministers Jack Chambers, left, and Minister Simon Harris, depending on your point of view. Photograph: David Young/PA Wire

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The Government is set to receive a pre-Budget boost to the public finances after signals from the Department of Finance that corporation tax returns will beat already elevated forecasts this year and in 2027. But there is concern within the Coalition about the potential for the new figures to stir pressure to increase the €8.5 billion package. Arthur Beesley has the details.

The co-founder and former chief executive of Paddy Power bookmakers has called on the Minister for Finance Simon Harris to levy a 40 per cent tax on online gaming and casino businesses, which he said posed a “significant danger”, particularly to young men, and served “no public good whatsoever”. Eoin Burke-Kennedy reports.

Irish Rail recently took a €50 million write down on its plan for a new train control system and fired the company it was using to deliver the project. In our big read, Martin Wall details the background to collapse of this project, and its scramble to replace it to ensure the Irish train network doesn’t hit the buffers.

Our Interview of the Week is Peter Broome, the head of Outsurance’s Irish arm. The Aussie tells Paul Colgan about the South African insurer’s growth plans here, how it won’t use AI to replace humans in the business, the growing impact of severe weather events on its business model.

Digicel, in which Denis O’Brien continues to own a 10 per cent stake after a significant debt restructuring in 2024, has agreed to sell its El Salvador business to sharpen its focus on its core markets in the Caribbean. Joe Brennan reports on the deal.

Dundrum Town Centre co-owner Hammerson said it expects a flurry of store openings, upgrades and refurbishments to be completed at the site throughout autumn and winter as part of a wave of investment at the south Dublin retail hub. Ian Curran has the details.

With the budget less than three weeks away, our columnist Eoin Burke-Kennedy details how Simon Harris and Jack Chambers are performing a good cop, bad cop routine with electorate ahead of the October 6th announcement.

Stripe, the Dublin-headquartered payments giant, has unveiled a new partnership with Brown Thomas Arnotts, becoming the Irish retailer’s official online payments processor across its various digital platforms. Ian Curran reports.

In our Work feature, Margaret E Ward explains why women’s struggle to get on the “boss-man’s ladder” has got harder.

In Smart Money, Cliff Taylor notes that global bond yields are signalling danger. Here’s what it means for Irish households

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