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Ireland boosts budget package to fight inflation

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Reuters UK

By Padraic Halpin DUBLIN (Reuters) – Ireland can increase its budget package for 2023 to help to fight soaring inflation, the finance ministry said on Monday after forecasting a small budget surplus rather than a deficit this year. As a result, ministers have 6.7 billion euros ($7 billion) available for spending increases and tax cuts next year, up from 4.5 billion euros previously, though almost half of that has already been allocated to spending plans. That will necessitate the temporary suspension of a new rule introduced last year tying core government expenditure growth to nominal economi…

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