Michael McGrath rules out Budget day splurge despite €7bn fall in deficit 

Michael McGrath: 'If we can reduce the deficit faster and faster, and add less money to the national debt, that's not a bad thing'

Minister for Public Expenditure and Reform, Michael McGrath. Picture: Leah Farrell / RollingNews.ie

Tuesday’s Budget Day package of new spending will remain at €4.7bn, despite this year’s deficit being €13bn and not €20bn as previously thought.

Ruling out any last-minute “splurge” Public Expenditure Minister Michael McGrath said he and Finance Minister Paschal Donohoe are “really satisfied” that the Budget Day package as outlined is the correct one.