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Bumper corporation tax windfalls means our rainy-day fund is vital

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Finance Minister Paschal Donohoe

Finance Minister Paschal Donohoe

Niamh Ni Chróinín will be presenting on Cúla 4, TG4's new children's channel

Niamh Ni Chróinín will be presenting on Cúla 4, TG4's new children's channel

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Finance Minister Paschal Donohoe

It’s difficult to get excited about a rainy-day fund against the backdrop of an unprecedented €11bn giveaway Budget – but plans to put €2bn into a backup fund this year, and €4bn the year after, is the type of prudent step that any beneficiary of a cash windfall would be well-advised to do.

In more recent discussions about our ‘over-reliance’ on windfall taxes from large global companies, an impression has formed that Ireland is somehow making a mistake by pocketing all this extra cash.


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