Ireland to lay out sovereign wealth fund plans in expansionary budget

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Ireland to lay out sovereign wealth fund plans in expansionary budget
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Ireland will detail in Tuesday's budget how it intends to use one of the healthiest public finances in Europe to cut future pension and climate costs while also introducing a raft of measures to ease current cost of living stresses.

Budget surpluses are a rarity in Europe following a jump in spending during COVID-19 but a surge in Irish corporate taxes paid by a small number of foreign firms snapped Dublin quickly back into a surplus of 2.9% of gross national income last year.

"The costs that we are providing for are going to come at us really quickly. We have a window of opportunity now and it's one that we need to avail of very quickly because the sands are shifting internationally," McGrath said on Saturday.

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