Corporation Tax Can't Save Us | Ireland News

The Central Bank just dropped a bombshell: Ireland’s real deficit is exploding, jumping from 800 million euros in 2019 to over 7 billion last year—a 55% surge. It’s being masked by a windfall of corporation tax, now making up 15% of all tax revenue, mostly from a handful of big firms. If spending keeps climbing, the deficit could hit 20 billion euros by 2030, forcing nearly 8 billion in new borrowing at rising costs. But there’s hope: if growth stays under 5% annually, Ireland can fund its National Development Plan without borrowing, preserving public services. The Irish Fiscal Advisory Council warns that unchecked spending will deepen reliance on shaky tax revenue and calls for a hard budget rule—legally enshrined—to steer the nation back on track.

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This is an automated, high-level news summary based on public reporting.
Sources:
https://www.irishtimes.com/business/2026/09/16/governments-underlying-budget-deficit-on-course-to-hit-20bn-by-2030-central-bank-warns/

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