The government stated that the corporation tax revenue will not remain at the current level
Dublin: Michael McGrath, Minister of Public Expenditure, stated that the increased corporation tax revenue would not be sustainable at the current level. The minister stated that because this revenue is only temporary, he is considering avoiding fixed expenses. He did, however, add that Ireland’s public finances are strong.
The minister’s comments came after it was revealed that more than €16 billion in corporate tax had been received up to the end of October.
The retention of tax revenue poses a significant risk. He stated that the same income would not be sustainable in the future. As a result, some fixed expenses must be avoided. In addition, the minister stated that expenses should be managed prudently. Interest rate uncertainty also persists. It is believed that the task of the ECB is to bring the interest rate to two percent.
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