How far will a €6.7 billion budget package get us?

The Summer Economic Statement outlining the government's budgetary strategy was published this week

Listen | 35:49

04/07/2022 – NEWS - Summer Economic Statement 2022 - The Minister for Finance, Paschal Donohoe TD and the Minister for Public Expenditure & Reform, Michael McGrath TD have today, on conclusion of Cabinet, hosted a press conference on the publication of the Government's Summer Economic Statement 2022 & End Q2 2022 Exchequer Returns. Photograph Nick Bradshaw for The Irish Times

Wed Jul 06 2022 - 16:15

This week saw the publication of the Summer Economic Statement, which sets out the Government’s medium-term financial strategy and outlines the funds available for the next budget.

Ministers Paschal Donohoe and Michael McGrath announced that Budget 2023 will be delivered on September 27th and will involve a €6.7 billion package, to tackle the spiralling cost-of-living crisis.

So, it’s bigger and earlier than expected, but will it go far enough?

In the latest episode of the Inside Business podcast, Cliff Taylor speaks to UCC economics lecturer Seamus Coffey and Tom McDonnell Co-Director of the Nevin Economic Research Institute (NERI) about how the funds should be spent and whether we can continue to rely on surging corporation tax receipts to pay the bills.