View this email in your browser THE IRISH TIMES Business Today Friday, 22 May, 2026 Editor's Note Good morning, reader The Government has exceeded its annual spending target by an average €5.1 billion in each of the last three budgets, new figures from the Irish Fiscal Advisory Council indicate. While part of the overspend was due to unforeseen factors like inflation, the budgetary watchdog said a significant portion stemmed from “bad planning” and “poor expenditure management”. Eoin Burke-Kennedy reports. Staying with the budget, Ireland must “rethink” its tax strategy in this year’s budget and take “decisive action” with measures to strengthen competitiveness, KPMG has said. As Colin Gleeson reports, the professional services firm, in its pre-budget submission to Minister for Finance Simon Harris, has urged the Government to increase the entry point to the marginal income tax rate, alongside a suite of other measures. There are many reasons for why turmoil is gripping the UK government at present, but a big part of the reason is the basic lack of fiscal room Keir Starmer’s team have to loosen the pursestrings and splash some cash. Eoin breaks down the issue in his column. Continue Reading Peter Flanagan   TOP BUSINESS STORIES Business US fintech Payoneer paid $13m to acquire Irish employment firm Boundless Business Government exceeds annual budget by average of €5.1bn since 2023 Business Ireland must rethink its tax strategy in this year’s budget, KPMG says Business Inside the Irish factory at the centre of the global weight-loss revolution Business Ireland ranked 15th in Europe last year for foreign direct investment attractiveness – EY report Eoin Burke-Kennedy Bond vultures circle British government as threat of renewed political upheaval returns MORE BUSINESS STORIES Business Irish consumer sentiment improves, but public still ‘nervous’ about household finances Business IBM’s global CFO: ‘To sustain lasting relevance, you have to continuously reinvent yourself’ Business Shares slide as US-Iran deadlock raises spectre of energy crisis Business Ralph Lauren shares jump as strong China sales help drive growth Do you have questions about becoming an Irish Times subscriber, or about your subscription? You'll find handy guides in our FAQs, and you can manage many aspects of your subscription in the My Account section. Never miss a business story Subscribe now for just €1 for your first month SUBSCRIBE