Ministers to be briefed on plans for €65bn budget surplus expected over next three years

43 comments
  1. No doubt they (we) will spend it on local pet projects and the health service black hole, instead of achieving environmental targets (which cost us millions in penalties every time we don’t meet them, which is every time) and affordable housing.

  2. We’ve a big pile of cash.

    We’ve a housing crisis.

    We could build houses. Fuck that, let’s by Dogecoin, YOLO.

  3. Its an interesting conundrum.

    Pouring it into domestic infrastructure wouldn’t really make sense as it would push up costs and make all other infrastructure – such as private home building – more expensive.

    But I wonder if something like funding offshore wind farms would make sense? It is then swapping cash for an asset that will keep on generating returns for decades. Unlikely to push up domestic infrastructure costs due to the specialised nature of wind farm installation workforce.

    An alternative would be to pre-fund social security pensions. At the moment we pay for social security pensions out of day-to-day tax receipts. That will become increasingly difficult as we go forward and more and more people retire. Prefunding the pensions, maybe also including public sector pensions, would mean we don’t have this future cliff edge, where a large portion of government receipts are just going out to pensioners.

  4. Paying down some of the national debt, investing in big ticket infrastructure and squirrelling some away in rainy day funds seems the most logical options.

  5. Hows this money going to vanish I wonder.

    Children’s hospital over 2 billion so how are we gonna be over charged next

  6. That amount could genuinely transform public transportation in this country. I know they aren’t going to spend it all on transport but I do think a large chunk of it should be spent on one area and make us leaders in that area

  7. They could cut VAT on building materials. And give training and incentives for people to join trades. For example, bring apprentice rates up significantly. Not being able to afford the first few years turns lots of people away from apprenticeships.

    They could spend the money on completely overhauling the planning process.

    They could create a state owned company that manufactures modular homes tailored to the Irish climate and sell them at cost.

  8. They should spend €64bn on hiring consultants to tell them how to spend it then give it away to a foreign country for nothing.

  9. 1. Introduce 30% rate from 45k to 80k and start 40% there. Will entice more builders into house building instead of doing cash in hand refurbishments.
    2. Subsidise child care a little more (not free for all, but to make it more affordable in small steps)
    3. Tax cuts for landlords who are rtb registered and haven’t increased rent in let’s say last 3y

  10. Wow! For that sort of cash you could get either a new hospital or a train that goes from Dublin to the airport.

  11. Housing is obviously a thing here but ideally this should be put into things like:
    – Renewable energy sources or nuclear
    – Public Transport Infra (and free transport initiatives)
    – UBI
    – Free Third Level Education

  12. I hereby volunteer as tribute for south east district 4 in the first Irish Hunger Games.

    The Prize €65billion.

  13. My understanding is that wind farms aren’t as viable as they we are made to believe. The sea bed off the West Coast is likely too deep in a lot of places for them, not so sure about the East Coast. But we definitely need to invest in some renewable. Nuclear the best option but won’t float from a public viewpoint.

    Public transport and more trains in general would help, especially high speed trains. Metro to actually start. I think they are currently upgrading the lines intercity but open to correction. My frequency between between cities and bigger towns. Though not what we need today, we will need them soon as the population continues to grow. We need to widen the streets in Dublin for Public transport also and can be used to reclaim land.

    Invest in the S&P 500, 7% a year on average return would pay for most big ticket items that take years to fill. We really need to put some in a rainy day fund.

    Increase Frontline staff salaries.

    Modular homes for the housing crisis.

    Pay off Dublin city dinosaurs (cause there is no other way they will go) and replace with people who actually care about the growing population and what the city needs then what their mates want. Same for the other cities.

  14. So now, will they spend it on something meaningful, or will the 65 billion disappear into Narnia and achieve absolutely nothing

  15. I’d be pumping that money into transport infrastructure personally. Building train and tramlines as much as possible between and within bigger towns and cities. It’d probably take a good chunk of that to purchase the land needed.

    I’d also like to see the buses re-nationalized fully but that ship has probably sailed.

  16. – put around 50% in a fund that can be tapped in circumstances such as a recession
    – put around 40% in infrastructure, transport, etc
    – the final 10% should go towards lowering middle class taxes, but dependant on the state continuing its reluctance on providing decent public services

  17. Sovereign Wealth Fund actively managed.

    Measures to ensure food security in coming decades.

    Build a DF capable of asserting neutrality or contributing meaningfully to an alliance.

    Huge focus on apprenticeships, technical education and technical research into 3rd and 4th level to keep pace with UK.

    Measures of restoration for younger generations betrayed in crash of 2008 and following. Bring them home.

    EDIT: Downvoters please say which one is objectionable

  18. What’s our national debt atm?

    First thing to do would be pay that off. It’s costing us 5bn a year in interest that could be used doing other jobs. It’d be far more sustainable than a once off big splurge of spending.

  19. “Ministers to create bodies and committees, jobs and bonuses for their buddies and families that will go unnoticed until the next recession”

    It’s not a snappy headline but it’s more accurate.

  20. *”If you invest all that money in the military, with this equipment we are offering you’ll be grand”*

    *”I hear you need more hospitals, maybe we can beat new records with this one”*

    *”Here you should invest this money in my company it’s totally safe”*

    *”You don’t need infrastructure or housing don’t be silly”*

  21. Most likely scenario is that large chunks of it will be wasted in an attempt to buy the next election. You can be sure that FFG do not want a potential SF lead government to have access to so much extra spending power.

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