The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Aimee Donnellan

DUBLIN, June 8 (Reuters Breakingviews) - Dublin, which once sought an EU bailout, is now one of Europe’s most creditworthy sovereigns with the cost of insuring its debt near a decade low. A Big Tech tax bounty from Apple and others filled its coffers. But AI-fuelled job cuts may dent its house market and wider economy.

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On June 4 Ireland reported a jump in income tax and VAT receipts in May which pushed the country's tax take so far this year 6.1% higher than in the same period in 2025 when the one-off proceeds of a ruling on Apple back taxes are excluded.

A surge in corporate tax receipts has driven Ireland's overall tax take to record levels in each of the past five years, contributing to significant budget surpluses during most of that time, even as spending has risen sharply.

Meta on May 18 detailed its layoff plans in a memo shared with employees, saying cuts to its workforce globally would be accompanied by ‌a fresh round of organisational changes aimed at improving the company's AI workflows. Around 350 jobs are under threat, according to a report from the Irish Times published on May 20.