
Government set to publish Summer Economic Statement
The publication comes as Minster for Finance Paschal Donohoe has been increasingly cautious about the public finances due to the threat of escalating tariffs from the US.
The statement will set how much tax will be collected and how much will be allocated to capital and current spending.
The Department of Finance said its focused on maintaining the stability of the public finances amid increasing uncertainty.
It said the Government will continue to put money into the Infrastructure, Climate and Nature Fund, and the Future Ireland Fund.
It said: "As a small open economy, we are vulnerable to external developments. This is why it is crucial that we have the resources available to maintain capital investment even in the event of an economic shock."
Much attention today will be on the scope for tax cuts next year.
A lot of that could be absorbed by a VAT reduction for hospitality which the Coalition committed to introduce in its Programme for Government.
Minister Donohoe has also ruled out one-off cost-of-living measures, a step which has drawn criticism from the opposition.
The Department of Finance said: "We are delivering on the Programme for Government commitment to increase capital investment in key areas, improving people's quality of life, boosting competitiveness and helping to attract and retain investment.
"At the same time, we will continue to use the resources available to us to invest record levels of public money across the public service, improve healthcare, education and social protection."
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Irish Sun
an hour ago
- The Irish Sun
Charming English town is getting new £42million train station that will reopen key link shut for over 60 years
A RURAL English town has been given the green light for a new £42million train station that will reopen a vital link. After more than 60 years without a railway station, Cullompton has been granted funding by the Department of Transport and HM Treasury. 2 Cullompton has been given the green light for a new £42million train station Credit: Alamy 2 The new station will also be next to the motorway services at Junction 28 of the M5 Credit: Alamy The announcement is set to turbo-charge the economy of the Devon town and provide desperately needed transport links for locals and visitors. The funding will also help to support plans for a new station in Wellington. Cullompton station first opened in 1844 and closed in 1964. The reopening will be key to enabling the Culm Garden Village development, which will create around 5,000 homes. Read More on Transport The new station will also be next to the motorway services at Junction 28 of the Councillor Jacqi Hodgson, Devon County Council Cabinet Member for Climate Change and Biodiversity, said: 'Further investment in rail infrastructure in Devon is always welcome and this railway station for Cullompton is key to the town's economic growth and will help reduce carbon emissions in the county. "People need improved public transport options if they're going to be encouraged to change their travel habits. "Hopefully Cullompton could follow the success of Okehampton Station and the re-opening of the Dartmoor Line, which is a great example of what can be achieved given the necessary funding from government.' Most read in Travel In April, a delegation of 30 people from the region travelled to London to hand-deliver powerful letters of support to rail minister Lord Hendy. Backed by a cross-party group of South West MPs and Wellington Town Council, the letters stressed how restoring rail links to both Okehampton and nearby Wellington could unlock major economic, social and environmental benefits. Lord Hendy said: 'The stations would contribute to sustainable development, connecting new residential areas with regional employment, education and healthcare opportunities. "The case for taking a combined approach presents significantly higher value for money compared with a stand-alone project in either area.' He added: 'Reopening Cullompton and Wellington stations would be a strategic investment aligning with the Government's goals to drive economic growth, reduce environmental impact and improve social mobility.' Economic growth Gideon Amos, who also backed the scheme, said: 'For the cost of around £42 million, £180 million of economic growth would go into the region — which I know the Government would want to see. 'Frankly, there is no other rail project in the south-west that is ready to go and could be built and completed in the next two years, as the project is so far advanced. 'In fact, had it not been for the review in July last year, the spades would be in the ground and the platforms under construction, because the contract was about to be let and the detailed design was almost finished.' And Labour MP Simon Lightwood added in the Commons: 'The strategic objectives are clear. "Enhancing public transport connectivity will support growth and productivity in Exeter, Taunton and Bridgwater, while also reducing road congestion, car dependency and carbon emissions.' He continued: 'The stations would contribute to sustainable development, connecting new residential areas with regional employment, education and healthcare opportunities." This comes as The GWR Regional Growth Manager David Whiteway said the project would provide "valuable support for the community and local economies". Satellite images show the rapid development of the £15million scheme, which is being funded by the Department for Transport with contributions from Devon County Council and West Since work began in January, major progress has been made to create the new station on the edge of Okehampton, two minutes from the A30. In March, 300 metres of the single-line track was moved 90cm north to allow a new platform to be built alongside it.


Irish Examiner
an hour ago
- Irish Examiner
Campaigners rally at Cork City Hall in protest against LNG terminals
Climate activists, local councillors, and concerned residents gathered outside Cork City Hall this week to protest against potential plans for liquefied natural gas (LNG) terminals in the region. Organised by the environmental group Not Here Not Anywhere (NHNA), the demonstration featured banners reading 'No LNG Terminals' and chants of 'Flooded Lee, rising seas, we say no to LNG.' Campaigners warned that the Government's reversal of a ban on fracked gas imports earlier this year has opened the door to new fossil fuel projects along Ireland's coast — including the Port of Cork. The protest supports a motion submitted to Cork City Council by Green Party Councillor Oliver Moran, which calls on the Council to oppose any LNG infrastructure and instead prioritise large-scale renewable energy. The motion is due to be debated in September by the Council's Environment, Water & Amenities Strategic Policy Committee. It states: 'That, as a Mission City to be climate neutral by 2030, Cork City Council is opposed to the development of Liquefied Natural Gas (LNG) terminals, as new fossil fuel infrastructure, and will work to ensure no LNG terminals are developed in the Cork region; and shall focus its support on the development of large-scale renewable infrastructure for energy security instead.' "Cork City Council is a member of regional energy stakeholder groups and an EU Mission City to be climate neutral by 2030," said Mr Moran. "Cork's future is in renewables. It's why the Port of Cork is investing €100m in a deepwater berth dedicated to servicing offshore energy. "Offshore energy will bring jobs and energy security tied to Cork. LNG will bring neither of those." Niamh Guiry, an NHNA campaigner and PhD researcher, added: "The people of Cork have made it repeatedly clear, we do not want and cannot afford any new fossil fuel infrastructure in the midst of a widespread and devastating climate crisis. "We are at a pivotal point in history. Now is the time for radical action and political bravery." She urged Cork City Council to pass the motion in September, calling it a critical signal to Government that the fossil fuel era must come to an end. Campaigners argue that LNG terminals would lock Ireland into high-carbon energy for decades, risking failure to meet 2030 climate targets and potential EU fines of up to €26bn. A recent EPA report also identified 115 climate-related risks to Ireland, with Cork seen as particularly exposed. They also pointed to a landmark advisory opinion issued last week by the International Court of Justice, which found that states may breach international law by supporting fossil fuel development or subsidies. 'It's unthinkable that Ireland could be locked into fossil fuel infrastructure and dependency for years to come," Ms Guiry added. "Passing anti-LNG motions that champion a just transition and the development of widespread renewable energy infrastructure like the one before Cork City Council is hugely important."


Extra.ie
3 hours ago
- Extra.ie
Simon Harris on Gaza solidarity day
Táiniste Simon Harris says he will talk to his colleagues about how to make a national day of protest for Gaza a reality. He was responding to a letter written by a Mr. Michael Cush which was published in Thursdays Irish Times, and stated 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. Taking to Instagram today, Simon Harris said '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'. Pic: Sam Boal/Collins Photos Michael Cush had also said in his open letter to the newspaper that 'If the Government were to call a national day of protest, the turnout would likely be enormous' Today, Simon Harris posted the letter on his social media, alongside a statement endorsing the suggestion made by Michael Cush. He went on to say '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 situation in Gaza is catastrophic. Pic: AFP via Getty Images The Irish government has been one of the few within Europe that have labelled Israel's actions in Gaza as 'genocide', while internationally the world looks on as the humanitarian crisis in Gaza worsens, and the population face the very real threat of starvation as the war continues.