Ireland has never had so much money with so little to show for it

Despite the State running a €25bn surplus, Ireland's infrastructure gains pale in comparison to its European counterparts, writes Emer Walsh

The fallout from the financial crisis continues to haunt Ireland to this day, with strict commitments not to use windfall corporation tax receipts to fund permanent or recurring expenditure. Photo: Yui Mok/PA Wire

The Irish economy currently has more money than it knows what to do with. The Department of Finance estimates that the State will post a general surplus of up to €25bn this year, underpinned by continued gains in corporation tax receipts and the €14bn back tax from Apple that Ireland fought so hard against receiving.

In addition, a strong jobs market has led to major boosts in income tax which is forecasted to exceed €34bn this year, with this figure set to only grow further in 2025.