Chambers Ireland responds to the budget surplus of €8.3 billion in 2023.

Chambers Ireland today (19 April 2024) noted the budget surplus of €8.3 billion in 2023.

Speaking this afternoon Ian Talbot, Chief Executive, said:

“While not unexpected after the Exchequer Returns released on 4 January, the figures published by the CSO today demonstrate the remarkable resilience of the economy and point to strong management by Government. Businesses have overcome challenge after challenge, crisis after crisis, to enable such remarkable tax returns to be achieved, including those derived from record levels of employment. We also welcome the prudent approach taken to the administration of surging corporation tax revenues which may reduce in the coming years.

But we must look to the future, where geopolitical risks, climate change and new technologies will demand speedy, flexible policy responses. As a small, open economy, Ireland is well placed to thrive in such an environment but to do so we must improve our collective ability and willingness to develop our capital infrastructure. Our plans are clearly articulated in Project Ireland 2040. Delivery must be a relentless focus of Government to ensure the social and economic vibrancy of the country, while also helping businesses increase their productivity and competitiveness. We must never return to the days when the first casualty in any downturn is State support for vital capital infrastructure.”

ENDS