The €65 billion question: how to spend the massive budget surplus

Cliff Taylor separates the opportunities from the dead ends

Listen | 26:19
The Department of Finance has projected a budget surplus of €10bn for this year, rising to €16bn in 2024; €18bn in 2025; and to nearly €21bn in 2026. Photograph: Getty
The Department of Finance has projected a budget surplus of €10bn for this year, rising to €16bn in 2024; €18bn in 2025; and to nearly €21bn in 2026. Photograph: Getty

Over the next three years the Government is going to have a cumulative budget surplus of a projected €65 billion - the biggest budget surplus in our history.

But how should the vast pot of money be used?

To help solve the housing crisis? On money-in-the pocket cost-of-living measures? Or generations-long visionary one-off infrastructure schemes?

Will the spending strategy be long term and structural – or short term and popular with an eye on the next general election?

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And is the surplus a chance to come to grips with our carbon dependency in the face of the climate crisis?

Ballooning corporate tax receipts are the foundations on which this vast surplus is built – but there is retrenchment in the global tech sector.

Cliff Taylor teases out the opportunities such a windfall offers, why it is happening and what the Government should do. Presented by Bernice Harrison. Produced by Suzanne Brennan and Declan Conlon.

Bernice Harrison

Bernice Harrison

Bernice Harrison is an Irish Times journalist and cohost of In the News podcast