Gov't To Unveil SES, Budget Package To Grow 6.1%-Irish Examiner

The Irish Examiner reportingthat "An overall budget package of €6.4bn will be announced on Tuesday afternoon that includes €5.25bn in extra expenditure and an additional tax package of €1.15bn." This would represent a 6.1% increase from last year, above the 5% spending rule set by the govt. Finance Minister Michael McGrath and Public Expenditure Minister Paschal Donohoe are set to present the Irish gov'ts Summer Economic Statement (SES) later on 4 July.

• The Irish Times reportsthat "The Irish Fiscal Advisory Council, Central Bank of Ireland and Economic and Social Research Institute have urged the Government to limit spending growth to 5 per cent this year or risk “overheating” and “unbalancing” the economy."
• The uptick in spending comes ahead of a year in 2024 that could prove jam-packed with elections. Likely on Friday 7 May, Ireland will hold both local elections for all of its county and city council seats, as well as elect its MEPs as part of the European Parliament elections. A general election could also take place in the autumn.
• The centre-right Fine Gael of Taoiseach Leo Varadkar and centrist Fianna Fail of Tainaste Micheal Martin, both trail the left-wing Irish republican Sinn Fein by over 10% in opinion polling. There remains the prospect that both of the parties, one of which has sat as the senior party of gov't since the establishment of the Irish Republic, could be ousted from power at the next election.