Central Bank warns against budget measures that would distort property market

In a pre-budget submission, Philip Lane calls for a separate national debt target

Central Bank governor Philip Lane

The Central Bank has warned against anymeasures in the budget that could distort the property market while also cautioning that the recent surge in corporation tax, as well as the current low interest rate environment, are temporary features of the economy.

In a pre-budget letter to the Minister for Finance Michael Noonan, governor Philip Lane also said that while EU rules set a ceiling for public debt, there "are compelling reasons to developa separate national target".