Budget Balance Tightrope Walk | Cork News

Cork News Today | 2 Min News | The Daily News Now! · Jul 4, 2026 · 1m

The government’s finances are holding up surprisingly well this year, buoyed by a record-breaking €50 billion in tax revenue — driven especially by a massive €7.5 billion spike in corporation tax in June. But there’s a catch: excise duty plummeted by over 20% due to fuel price subsidies, and spending jumped 7% to €54.4 billion, shrinking the first-half surplus to just €700 million — down from €4.5 billion last year. Apple’s one-time payment last year skewed last year’s numbers, so this year’s figures offer a clearer picture of ongoing trends. Income tax remains steady, signaling a resilient…