The myth of money?
03 October 2024
For any government, an extra €25 billion to spend is a welcome surprise, if not a miracle. For Ireland, it's a reality: the Republic is ending 2024 with an exceptional budget surplus of 8% of its national income, partly thanks to the Apple back-tax. That’s €5,000 per citizen.
Only four EU countries – Ireland, Denmark, Cyprus and Portugal – are predicted to have a positive budget balance for the third consecutive year since 2022. However, having the money doesn't guarantee a better quality of life. Denmark and Ireland have the highest consumer price levels and some of the lowest rates of available hospital beds in the EU, according to the latest data from Eurostat. On top of that, Ireland experienced the third-strongest rent increase since 2010.
 | Ciara Boulman This doesn't mean that Ireland isn't spending on its citizens: this year's budget plans for 6.5% more spending than last year, with billions expected to go into health, housing, and cost-of-living. But the country has a recent history of public planning plagued by expensive delays or lack of oversight: just think of the costly mess of National Children's hospital or the Irish parliament's €1.7 million investment into... a bike shed and a security hut. |
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