Budget to include €500m in tax cuts

Minister for Public Expenditure, Michael McGrath confirmed that due to the complexity of dealing with the pandemic bonus, it will now not be announced in the Budget.

The Government will announce additional spending measures totalling €4.7bn, including €500m in tax cuts on Budget Day, ministers Paschal Donohoe and Michael McGrath have said.

Despite a sharp increase in forecasts of economic growth, Mr Donohoe said the parameters already committed to will pertain on Tuesday, October 12. Despite the uplift in growth, Mr Donohoe said that no extra funds would be allocated for the budget day package despite the improved outlook.