Michael Noonan: Country can afford to pay EU extra €280m

Finance Minister Michael Noonan has said that the country can afford to pay the EU an additional €280m, after the CSO said economic growth had soared by over 26% last year.

He said that despite the additional charge to the State, there is no change in the budget position and there will be no impact on services.

Speaking yesterday, Mr Noonan said Ireland will be able to meet the increase in its contribution to the EU budget because it has collected more money in taxes this year than expected.