Budget 2024

As Budget 2024 approaches, the Government faces calls to use its budget surplus to help people through the cost of living crisis and invest in critical infrastructure. But with inflation already high and capacity constraints now evident, can the Government afford to pump more money into the economy? And if so, how much is too much?

As Ireland’s tax revenues continue to surge, the Government is under increasing pressure to do more to alleviate the cost of living crisis. With the ESRI forecasting a budget surplus of nearly €10 billion this year, cash flow isn’t an immediate issue. However, significant investment in an economy with persistent inflation and evident capacity constraints could cause the economy to overheat. In signalling a budgetary package of €6.4 billion for Budget 2024, the Government has adopted what it describes as a “sensible budgetary policy that balances investment in our public services and infrastructure with the long-term sustainability of our public finances”. But with a general election in sight, can they balance prudence with popularity?

What we’d like to see in Budget 2024

Budget 2024 needs to be pro-growth while addressing the climate crisis and domestic issues.

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Paraic Burke

Paraic Burke

Partner, PwC Ireland (Republic of)

Tel: +353 (87) 6797774

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