Windfall corporation tax take of €15bn ‘should be put into State savings funds’
Central Bank says Government should not rely on receipts to finance current spending
Corporation tax returns have risen this year thanks to Apple. Photo: Samsul Said/Bloomberg
The Government should be putting almost all this year’s €15bn in “windfall” corporation tax receipts into its two long-term savings funds, according to a leading Central Bank official.
At present only about one-third of the excess has been earmarked for the Future Ireland Fund and the Infrastructure, Climate and Nature Fund (ICNF), which were set up last July.
