Irish finance department confirms €25 billion surplus for 2024 in new report

The Irish Department of Finance's new 'White Paper' confirms a €25 billion surplus for 2024, largely due to a €14 billion windfall from Apple’s unpaid taxes. The document outlines projections for government receipts and spending ahead of the budget. The surplus includes a record €30 billion in corporate taxes, exceeding previous expectations. However, the Irish Fiscal Advisory Council cautioned against relying on these one-time receipts, warning that the surplus will likely decrease significantly in 2025. The Council also emphasized the need for greater transparency in budget reporting, suggesting that gross spending figures would provide a clearer financial picture. Finance Minister Jack Chambers acknowledged the risks associated with relying on volatile corporate tax revenues from a few large companies.