EU reforms will see budget plans outlined five years in advance

Michael McGrath, the minister for finance, is set to update cabinet on new EU fiscal rules which will require member states to publish their budgetary plans years in advance.

The measures - which are currently working their way through the European Parliament - will mean governments will have to outline their net expenditure projections five years in advance. Member states must adhere to these plans except in very limited circumstances.

The new rules are expected ...