Government rules out cost-of-living package despite another surge in corporation tax receipts

The Government has already warned the next budget will be more restrained than previous years

File photo dated 27/09/22 of 10 and 20 Euro notes on top of electricity bills, as more than a third of parents have said they had to cut back on, or have gone without, heating over the past six months due to pressures caused by inflation, a report has said.

The Government has ruled out a cost-of-living package for households facing soaring food bills, high energy costs and elevated mortgage rates despite another surge in corporation tax receipts.

The exchequer returns, published on Thursday, show a strong surplus of €4.5bn for the first six months of the year, as wrangling over the budget is due to kick off in the coming weeks with the publication of the summer economic statement.