IRELAND LAYS OUT PLANS FOR 100 BILLION EURO SOVEREIGN WEALTH FUND

Ireland laid out plans in Tuesday's budget to turn some of the healthiest public finances in Europe into a 100 billion euro ($106 billion) sovereign wealth fund, while also announcing a raft of measures to ease current cost of living stresses.

Budget surpluses are a rarity in Europe following a jump in spending during COVID-19 but a surge in Irish corporate taxes paid by a small number of foreign firms snapped Dublin quickly back into a surplus of 2.9% of gross national income last year.

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