The Summer Economic Statement, published on 22 July, shows that the Government has earmarked €1.5bn for tax cuts in the October budget.

Spending is expected to increase by €7bn, bring total expenditure to €125bn in 2027, more than twice the level seen a decade ago.

The statement says that government is “committed to introducing changes to personal taxation” which would allow workers to keep more of their pay.

On spending, the government will continue to invest in infrastructure, particularly around energy saying Ireland “must accelerate the transition towards secure and sustainable energy supply”, adding that “energy security is economic security”.

While there are no actual measures announced in the budget, or any mention of agriculture, the statement did outline the projected future costs from climate-related expenditure.

That spending is expected to rise from €500m in 2026 to €13bn by 2065.