Ireland plans 8.5 billion-euro budget package for October 2027

Ireland plans 8.5 billion-euro budget package for October 2027 as the government prepares a fiscal package combining tax cuts and increased spending. The Department of Finance said on July 22 that the budget, scheduled for October 2027, would include 1.5 billion euros in tax reductions focused mainly on income, alongside seven billion euros in additional public spending. That would lift spending by 5.9% versus the previous year, while total spending is expected to rise by more than eight percent this year due to extra funding added in April for high fuel costs and additional education expenses. Ireland’s independent fiscal watchdog, the Irish Fiscal Advisory Council, estimates 5.5 billion euros will be needed next year to cover a new pay agreement for public sector workers and maintain current services in real terms. The government also committed 1.1 billion euros to capital spending in 2027 to address an infrastructure gap. Chambers Ireland urged the government to lower business cost pressures and accelerate infrastructure delivery.