Ireland's Record-Breaking Pre-Election Budget Unveiled

The Irish government announced a 10.5 billion euro budget for tax cuts and spending increases ahead of the next election. This budget includes a record allocation from a 14 billion euro Apple tax windfall to improve infrastructure. Prime Minister Simon Harris is set to call an election by March.

The Irish government unveiled a record 10.5 billion euro budget for tax cuts and spending increases as a pre-election move, leveraging a 14 billion euro Apple tax windfall to upgrade infrastructure.

With an election due by March, Prime Minister Simon Harris's administration has allocated significant funding to pensioners, parents, renters, workers, and welfare recipients, marking the largest non-pandemic budget expenditure since the Celtic Tiger era, equivalent to about 2,000 euros per capita.

Despite breaking its budget cap rules for a third consecutive year and facing opposition claims of buying votes, the government emphasized the unique opportunity this budget presents to transform the country's future. Finance Minister Jack Chambers highlighted extensive investments to address supply bottlenecks and support long-term growth.

(With inputs from agencies.)