
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


Irish Independent
44 minutes ago
- Irish Independent
Oireachtas Committee to recommend Government include services in Occupied Territories Bill
The Oireachtas Foreign Affairs Committee is to recommended the inclusion of services as well as goods in the Government's version of the Occupied Territories Bill.


Irish Examiner
3 hours ago
- Irish Examiner
High-security intelligence hub to be built at Garda HQ under long-delayed national upgrade
A new multi-storey, high-tech facility for Ireland's internal security service is to be built at Garda HQ, the Irish Examiner understands. The project marks a significant investment in Ireland's security infrastructure and capabilities but comes nearly seven years after the Commission on the Future of Policing in Ireland (CoFPI) urged such investment and prioritisation. The facility is expected to take five years to build and fit out, and will provide high levels of physical and cyber security. The Garda National Crime and Security Intelligence Service (GNCSIS), currently located within the existing Garda HQ complex in Phoenix Park, will move into the new building. It is understood that the service could be expanded as part of the development, though details remain unclear. The GNCSIS is both a security and organised crime intelligence service. It also has a large operational arm, including firearms operations and anti-terrorism investigations. The new facility is being built under the renewed National Development Plan, published this week. The building will be located on the existing Garda HQ site and will comprise a multi-storey, bespoke facility built to high standards of physical and cyber security. The facility is seen as a key element in strengthening the GNCSIS, which serves as Ireland's internal security service. The CoFPI report, published in September 2018, stated that the Garda's security and intelligence capability 'must be strengthened.' It called for a 'ring-fenced budget' and the ability to 'recruit specialist expertise — analytical, technological, and legal — directly and quickly.' It said this was a 'matter of urgency,' as international terrorism and organised crime are constantly evolving, and it assessed the risks to the State as 'serious.' Those particular recommendations have yet to be implemented but are expected to be examined as part of the review of 'national security structures' promised under the Programme for Government. It is believed that this internal review — currently being carried out by the National Security Committee, which includes senior civil servants and top Garda, Defence Forces, and cyber officials — is ongoing. The investment in Garda security structures comes just days after a judge overseeing the use of phone-tapping powers urged that the role and powers of military intelligence in State security be clarified in legislation. Mr Justice Tony O'Connor said the Irish Military Intelligence Service (IMIS) moved into a 'new bespoke secure facility' last March. 'The new facility is a welcome development and affords a modern and professional aspect,' he said. 'The new building is purpose-built to top secret clearances and security specifications.' While An Garda Síochána is responsible for internal security, including State security, the Defence Forces are also tasked with State protection, particularly against external threats. CoFPI recommended the creation of a national security analysis and coordination body under the Department of the Taoiseach. One of its primary tasks would be clarifying the roles of Garda and military intelligence and ensuring 'no overlap' between them. This clarity has not yet been achieved, despite the wishes of Garda and military intelligence. The National Security Analysis Centre (NSAC), set up under the Department of the Taoiseach, never established a coordination function for intelligence agencies. The ongoing national security review is expected to examine this issue. NSAC also failed to produce a National Security Strategy, which was initially expected in 2021 and meant to cover the 2020–2025 period. NSAC was quietly dissolved as a standalone body earlier this year and now operates as a secretariat within the department. It is expected to finally publish Ireland's first National Security Strategy later this year. Read More Gardaí investigating teenage gang attacks on Indian nationals


Irish Examiner
3 hours ago
- Irish Examiner
Hopes for trade framework deal between EU and US this weekend
There is fresh hope that a trade framework agreement between the EU and the US will be reached over the weekend, Government sources have confirmed. It comes ahead of the tariff deadline on August 1, which could see Irish and EU goods entering the US hit with 30% tariffs. The original deadline of July 9 was extended by three weeks as US president Donald Trump also increased his proposed tariffs from 20% to 30%. Government sources told the Irish Examiner that there is an expectation, belief, and hope that a deal will be agreed between the US and the EU in the coming days. However, they also sounded a note of caution as they stated there was a 'flurry of activity' earlier this week after several news outlets in Europe reported that a deal was imminent, only for it to be rebuffed by White House officials. There were also suggestions earlier this month that a framework agreement was ready to be signed off, but this also never materialised. In Luxembourg, Taoiseach Micheál Martin told reporters that he was 'hopeful' a preliminary deal could be reached over the weekend. However, he also warned that it would be 'foolish' to bet on it. 'We're certain there will be detailed discussions... in terms of many, many products,' he said. 'This will continue notwithstanding a framework agreement, [which] hopefully will be signed off before the weekend is over. "Part of the reason for the intensity of those negotiations is to try and tie up as much as we can.' The Taoiseach also said there are 'intensive' conversations ongoing and that the EU does not want a 'retaliatory scenario'. On Thursday, EU members agreed to introduce €93bn worth of counter tariffs against the US if an agreement was not reached. The measures would take effect by August 7, but only if a deal is not struck. The package is a consolidation of two separate tariff packages — one in response to US steel and aluminium valued at €21bn, while the second was compiled earlier this summer. Tánaiste Simon Harris, who is also trade minister, said it was 'long past time for a deal'. 'While we were successful in removing some key Irish sensitivities following intensive consultation with the European Commission, this package of rebalancing measures, if implemented would have an adverse effect on European and Irish business,' he said. Read More Consumer sentiment slips in July amid concern over cost pressures and tariff threats, survey shows