Chambers Ireland notes the end of year Exchequer Returns showing a surplus of €1.2 billion

Chambers Ireland today (4 January 2024) noted the end of year Exchequer Returns showing a surplus of €1.2 billion after the transfer of €4 billion to the National Reserve Fund.

Speaking this afternoon Ian Talbot, Chief Executive, said:

“Particularly in light of global challenges, the surplus shown in the 2023 Exchequer Returns indicates much to be positive about for the Irish economy. Record levels of employment and the extraordinary turnaround in our economy since the dark days of 2008 – 2010 give grounds for cautious optimism as we move into 2024. Also notable was the substantial reduction in interest costs from €3.7 bn to €3.17 bn demonstrating very strong management of the State’s net debt, particularly during a year of significant interest rate increases.

2024 threatens to be another challenging year. Ongoing wars, new threats to global trade and several important elections globally will continue to overhang the global economy and trade. As a small, open, trading economy Ireland cannot isolate itself from potential impacts of these and other events and, at the same time, we must also plan for future growth in our economy and population. Government must therefore be ambitious and retain focus on improving productivity and competitiveness, particularly of indigenous companies, and increased supports should be available to SMEs to help them meet new legislative obligations. There also needs to be continued emphasis on housing, and increased investment in public services and the development of infrastructure in accordance with the National Development Plan and our obligations under the UN Sustainable Development Goals.”

ENDS

About Chambers Ireland:

Chambers Ireland is the voice of business throughout Ireland, with 40 member chambers across every major city, town and region of the island. Aligning our strategic priorities with the UN’s Sustainable Development Goals, our aim is to make places better to live, work and do business.

Chambers Ireland were selected by the Government as a National Champion of the UN Sustainable Development Goals in 2023.