McGrath confirms income tax cuts in next budget

both Mr McGrath and the Taoiseach have now promised tax cuts. A road map for the next budget will be revealed in the Government’s summer economic statement, due to be published on Tuesday. Picture: Niall Carson/PA

Income tax cuts are coming in the next budget, the Minister for Finance has promised.

But Michael McGrath also sounded caution saying that although Ireland has record-smashing revenues this year, with corporate tax receipts expected in excess of €24bn, these “windfall” profits could not be expected in perpetuity so must be invested wisely and not squandered on an overly generous budget.