National debt to increase significantly over coming decades as corporate tax falls and age-related costs increase

By 2065, age-related expenditure, such as healthcare, long-term care and pensions, will account for 46% of all voted expenditure, report finds

The report, 'Future Forty: A Fiscal and Economic Outlook to 2065', was published by the Department of Finance. Picture: Stephen Collins /Collins Photos

A decline in corporation tax receipts coupled with additional spending on long-term healthcare, pensions, and climate change measures will see the national debt increase significantly over the coming decades, with economic growth expected to slow, a new long-term economic outlook report has found.

In its report, entitled 'Future Forty: A Fiscal and Economic Outlook to 2065', the Department of Finance looks to provide a long-term economic and fiscal outlook for Ireland, set out over four decades on a "no policy change" basis.