The Minister for Public Expenditure has said it is “inevitable” the Government will have to examine ways to raise extra revenues to fund expanded State services in the wake of Covid-19.
While saying there is no current plan to raise taxes, Michael McGrath said said, “We have to keep our options open. We’re certainly not saying that there won’t be revenue-raising measures in the Government’s lifetime, because I think it is inevitable that there will be some.”
“I think we will inevitably have a larger State coming out of the pandemic,” McGrath continued.
He said a longer term plan for the public finances would be outlined in the Stability Programme Update next April.