EU issues warning on Ireland’s reliance on corporate tax revenues

Finance Minister Michael Noonan’s Budget 2017 has passed muster with the European Commission but Ireland has been warned again about the State relying on the one-off bounty from booming corporate tax revenues.

The commission said yesterday that Ireland’s budget was “broadly compliant” with EU budget rules.

However, it warned that spending increases and tax cuts are being funded by “volatile” corporate tax receipts, leaving the budget vulnerable to over-runs.