€1bn extra for October budget

Tax breaks for lower and middle-income earners are to play a central role in the Government’s roadmap for October’s budget of up to €1bn extra spending, which will be published today.

The improving economy will allow the Government fast track commitments to deliver better services and major capital projects as well as permitting the establishment of a multi-billion euro rainy day fund, it can be revealed.

The commitment to establish a rainy-day fund is part of the plan to help buttress the country against any future financial shock.