Record €25bn budget surplus will fund pension hike, USC cut, and cost-of-living package

As well as extra funding for services and cost-of-living package, a boost of €10 to €12 is expected on key rates such as the State pension. Picture: iStock

A record €25bn surplus will give the Government freedom to deliver a bumper budget of USC cuts, pension increases, cost-of-living payments, and investment in public services.

Talks are set to continue long into the weekend, with government leaders and line ministers to finalise the overall shape of the budget.