Budget 2024 will see 6.4 billion euro in additional spending and tax cuts.

The Summer Economic Statement has been published revealing the Government will spend an extra 5.2 billion euro, with 1.1 billion allocated for tax cuts.

Of that, 3.2 billion is already allocated - meaning there will be a two billion euro pot for new spending measures.

That means an overall increase in core spending of 6.1 per cent - in breach of the Government's spending rules which had limited expenditure hikes to 5 per cent.

The Department of Finance has also revealed the overall tax take was up almost 11 per cent through the first six months of the year at nearly 41 billion euro.

That includes a 20 per cent increase in corporation tax take.