What should Ireland’s government do with a huge budget surplus?

Bloated by theGDP GNI offshore profits of global corporations, the Irish economy has long been prone to manic mood swings. In 2016 Paul Krugman, an economist and commentator, coined the phrase “leprechaun economics” to describe a surge of 26% in Ireland’s that was later found to have been caused largely by accounting changes at Apple, one of several American tech and pharma giants that book much of their global profits in Ireland.In Irish folklore, leprechauns were grumpy sprites who hoarded pots of gold at the ends of rainbows. Some wily mortal would invariably trick the little chap out of his stash. Boosted by corporate tax from overseas companies, the Irish government faces a budget surplus of €10bn ($10.5bn, or 3.5% of ) this year and maybe €16bn the next. Yet this bonanza puts Ireland’s finance minister, Michael McGrath, poised to unveil his annual budget, in a quandary.