logo
State set to devote extra funds to big projects, but where is the money coming from?

State set to devote extra funds to big projects, but where is the money coming from?

Irish Times4 days ago
When the Government publishes its key economic documents on Tuesday, the natural focus will be on where the extra investment is being targeted. A key question involves additional resources being devoted to projects in housing, water, energy and transport in the revised National Development Plan. What will this mean for other parts of the
budget
and where is the money going to come from?
We should get some clue from the second major document, the Summer Economic Statement (SES), which looks at the outlook for the budget.
Here, the key question is whether extra spending has left less room for day-to-day supports and tax reductions to be factored into the budget.
The SES will give some indication of room for manoeuvre in the budget – in other words, what the package on the day will cost. The budget ministers,
Paschal Donohoe
and
Jack Chambers
, are likely to indicate that less money is available this year.
READ MORE
David McWilliams on how 'big incentives' to build could save Dublin city
Listen |
36:51
They are also likely to repeat the assertion that there is no
cost-of-living
package this year. How both of these commitments survive the run-up to the actual budget remains to be seen.
A key issue to watch for concerns budget overruns and whether the Government is going to take action to stop them happening this year.
The Irish Fiscal Advisory Council, the budget watchdog, has said that the spending allocations for this year were flawed from day one, because they failed to build in overruns in 2024. With the council estimating overruns of €2 billion-plus this year, does the Cabinet plan to rein these in? And what does it mean for 2026?
The goal of keeping spending growth to 5 per cent a year, set in 2021, was quickly consigned to the dustbin. So, what will now replace it? Or is it just a case of spending whatever cash is available every year?
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Simon Harris says he will try to make a 'national day of protest over Gaza' happen
Simon Harris says he will try to make a 'national day of protest over Gaza' happen

The Journal

time4 minutes ago

  • The Journal

Simon Harris says he will try to make a 'national day of protest over Gaza' happen

TÁNAISTE SIMON HARRIS took to Instagram today to endorse a letter advocating for a national day of protest over Gaza, and said that he will talk to colleagues on 'how to make this happen'. Harris was responding to a letter written by Micheal Cush that was published in The Irish Times on Thursday. The letter states that the Irish government has been strong in its condemnation of Israel's actions in Gaza, but that the government and the people of Ireland are growing frustrated as they feel 'helpless' to prevent the ongoing conflict. Advertisement 'But together, the Government and the people might be much more influential,' Dublin man Cush wrote in his letter. 'If the Government were to call a national day of protest, making clear that it was a condemnation of atrocities in Gaza, not of Israel's right to self-determination or self-defence, the turnout would likely be enormous.' Today, Harris posted the letter alongside a statement endorsing Cush's suggestion. 'The people of Ireland stand with the people of Palestine. We stand for human rights, for international law, for a two state solution, for aid to flow, for hostages to be released. We stand for peace. We stand for an end to genocide,' Harris wrote. 'The suggestion for a national day or moment of solidarity made by Michael Cush in the letter above is sensible and a good idea. It could be powerful if many countries did it together. I will now talk to colleagues on how to make this happen.' Related Reads EU tells Israel to 'stop killing people' who are seeking food and aid 'Humanitarian city' for Palestinians would be a 'concentration camp', says former Israeli PM The Irish government has been one of the few within Europe that have labelled Israel's actions in Gaza as 'genocide'. However, it has faced intense criticism from staunch supporters of the 'Free Palestine' movement over the Central Bank's role in facilitating the sale of Israeli bonds, as well as the delay in passing the Occupied Territories Bill. Internationally, pressure has been ramping up on countries to take decisive action as the humanitarian crisis in Gaza worsens. The territory's population is facing malnutrition and starvation as an aid crisis continues. Overnight, at least 25 people were killed by Israeli air strikes and gunshots , according to health officials and the ambulance service today. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

Electricity bills set to hike for thousands of Irish homes
Electricity bills set to hike for thousands of Irish homes

Extra.ie​

time34 minutes ago

  • Extra.ie​

Electricity bills set to hike for thousands of Irish homes

Thousands of people are set to see an increase in their electricity bills soon with energy company Flogas hiking its rates. Starting on August 25th, the Irish provider is set to increase its variable electricity charges by around 7%. For a typical Flogas residential electricity customer, the changes will mean an increase of around €10.51 a month, or €126 a year, on their bills. Flogas are increasing their rates on August 25. Pic: Shutterstock The energy company currently has about 43,500 residential electricity customers on variable rates. Flogas Energy Managing Director Sean O'Loughlin stated, 'We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Plan and pre-payment meters.' The hikes come as the government has confirmed that one-off cost of living measures, bonuses and electricity credits will not be a feature in the upcoming budget. In recent years, the public has come to expect energy credits as part of the government's annual budget announcements. For Budget 2025, two €125 energy credits were issued with one in January and another in November. Previous budgets have included a range of cost-of-living supports such as double payments and bonus lump sums. However, these measures will not be included this year. Minister for Public Expenditure, Jack Chambers, stated that while several one-off payments were made in recent years for certain social welfare schemes, this year will mark a departure from that approach. Public Expenditure Minister Jack Chambers revealed no electricity credits will be in this year's Budget. Pic: Fran Veale Chambers appeared on RTE's News at One to give information on what shouldn't be expected in Budget 2026 and pointed out that the government wants to take decisions that would be 'sustainable with global uncertainty'. According to the Irish Independent, around one in eight domestic electricity customers were behind on their electricity bills earlier this year. Commission for the Regulation of Utilities figures showed that in the three months before April, a total of 286,000 households were in arrears. Pic: Getty Images This is up by 85,734 when compared with the same quarter last year. A total of 175,500 households are behind on gas bills, up around 15,000 on last year. Average arrears on electricity bills is €437, according to the CRU. On gas bills, the average arrears amount is €213. A sobering thought for many as we gallop towards autumn and winter and the colder months ahead.

Simon Harris considers Gaza national day of solidarity
Simon Harris considers Gaza national day of solidarity

Irish Times

timean hour ago

  • Irish Times

Simon Harris considers Gaza national day of solidarity

Tánaiste and Minister for Foreign Affairs Simon Harris is considering plans for Ireland to hold a national day of solidarity in support of the people of Gaza . Mr Harris said a proposal for a national day of solidarity was a 'sensible and a good idea'. The proposal was made by Michael Cush and appeared in the letters page of The Irish Times on Thursday. 'The Government has been brave and consistent in its condemnation of the atrocities in Gaza. But it has been frustrated, too,' Mr Cush wrote. 'But, together, the Government and the people might be much more influential. READ MORE 'If the Government were to call a national day of protest, making clear that it was a condemnation of atrocities in Gaza, not of Israel's right to self-determination or self-defence, the turnout would likely be enormous,' the letter said. In a post on his Instagram account on Saturday, Mr Harris shared the letter and said that the people of Ireland 'stand with the people of Palestine'. 'We stand for human rights, for international law, for a two state solution, for aid to flow, for hostages to be released. We stand for peace. We stand for an end to genocide,' Mr Harris said. 'The suggestion for a national day or moment of solidarity made by Michael Cush in the letter above is sensible and a good idea. It could be powerful if many countries did it together. I will now talk to colleagues on how to make this happen.' The World Food Programme (WFP) said this week that almost a third of people in Gaza are 'not eating for days', and that the crisis has reached 'new and astonishing levels of desperation'. The WFP, which is the United Nations food agency, said 90,000 women and children are now in urgent need of treatment for malnutrition. It also said 470,000 people are expected to face 'catastrophic hunger' between May and September this year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store