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Minister for Finance Paschal Donohoe. The Irish Fiscal Advisory Council has long argued that Government spending should be in line with the long-run growth trajectory of the economy. Photograph: Julien Behal

Stronger tax receipts combined with lower spending on wage supports will result in a smaller-than-expected Government budget deficit of €15.5 billion (...)

Minister for Finance Paschal Donohoe has signalled October’s budget will be framed around a €4.2 billion hike in spending with €500 million set aside for tax cuts. Photograph: Colin Keegan, Collins Dublin

The Government is adopting a “risky” budgetary strategy that “avoids making hard choices” and may ultimately overheat the economy, the Irish Fiscal Ad(...)

Politics, like theatre, is about managing the audience’s attention and what Paschal Donohoe is diverting our attention from is the unprecedented pick-up in general spending... Photograph: Paul Faith/AFP

Minister for Finance Paschal Donohoe is promising to eliminate “the high levels of borrowing” and emergency spending related to the pandemic within t(...)

Minister for Finance Paschal Donohoe says he is not considering any further changes to the Government’s budgetary strategy beyond what was set out in its summer economic statement. Photograph: Nick Bradshaw

Minister for Finance Paschal Donohoe said he plans to “eliminate” the State’s high level of pandemic-related borrowing over the next two budgets. He (...)

 Central Bank governor Gabriel Makhlouf poured a bucket of very cold water on things. Photograph: Dara Mac Dónaill

If there was an air of optimism around on Wednesday morning as people digested the Government’s plan to remove almost all remaining Covid-19 restricti(...)

Gabriel Makhlouf said the upcoming budget should ‘signal clearly a sustainable path to a more resilient medium-term position for the public finances’. Photograph: Nick Bradshaw

The Governor of the Central Bank of Ireland has criticised the Government’s revised budgetary strategy, warning it poses a greater risk to the public (...)

Traders work on the floor of the New York Stock Exchange. The blue-chip Dow, heavily weighted toward economically-sensitive stocks, tumbled 0.8 per cent. Photograph: Justin Lane/EPA

European shares ended at fresh highs on Wednesday with technology stocks hitting a 20-year peak, while optimism over the second-quarter earnings seas(...)

Minister for Public Expenditure Michael McGrath and Minister for Finance Paschal Donohoe: The summer economic statement, with its much bigger deficits – likely to fund a new housing programme – marks a sea change. Photograph:  Nick Bradshaw

Budgetary announcements tend to be rather dull affairs. The content is usually flagged in advance and the changes typically flow from an existing poli(...)

The Minister for Finance Paschal Donohoe. The Summer Economic Statement sets the Republic on a new economic path. Photograph: Stephanie Lecocq/EPA

The Department of Finance published its Summer Economic Statement (SES) on Wednesday. The statement sets out the Government’s economic and budgetary p(...)

Minister for Finance  Paschal Donohoe: While the  summer economic statement shows a “core budget package” of €4.7 billion for the October budget, just €1.5 billion will be set aside for new measures. Photograph: Stephanie Lecocq

The Government is set to allocate significantly increased capital funding for housing, but has committed itself to difficult deficit-reduction targets(...)

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