with a surplus of 24 billion euros, the government promised a shower of gifts during the vote on its budget

While the budget promises to be austere in France, it is quite the opposite in Ireland. The country is taking full advantage of its low corporate taxes, and Apple has also just been ordered to pay 13 million euros in arrears.

Ireland’s budget, which was voted on Tuesday October 8, 2024, would make any European country green with envy. If in 2023 the public accounts already showed a surplus of 10 billion euros, this surplus jumped this year: the Court of Justice of the European Union ordered the giant Apple to pay a sum of 13 million euros in arrears taxes to Ireland. In total, the country therefore generates 23.7 billion euros for 2024, which is equivalent to a surplus of 4.7% of GDP.

If Ireland accumulates profits, it is thanks to its more than attractive tax rate. Set until recently at 12.5% ​​for companies, it was raised to 15%, under European pressure. The country benefits from the presence of all the big names in tech on its soil.

For the 2025 budget, the government has decided to redistribute this money, and it is a shower of gifts for households. Between an increase in the minimum wage, a reduction in income taxes, a reduction in energy prices, it was also agreed to increase family allowances.

These enormous boosts are enough to boost – obviously – the popularity of the centrist coalition in power. Irish Prime Minister Simon Harris has also been accused by the opposition of buying the next elections.

This is also the opinion of Davide Romelli, professor of economics at Trinity University, Dublin. “They will, for example, distribute 250 euros to each person who has an electricity bill, he explains. From my point of view, this is purely a tax giveaway. As a citizen, if the government gives me more money at the end of the month, I tell myself that I am happy. But, as an economist, I think this money should be invested elsewhere. There it is used to get more votes.”

Elections are due to take place by March 2025 in Ireland, but rumors are already circulating that they could be called as early as November 2024.