Corporation tax levels 'long way' from normal, says watchdog

Corporation tax levels 'long way' from normal, says watchdog

The Irish Fiscal Advisory Council has described the government’s medium-term spending forecasts, set out earlier this year, as 'not credible'

The state’s budgetary watchdog has urged the government to “wean itself off” a reliance on corporation tax receipts, which it says are now “a long way from conventional levels”.

The Irish Fiscal Advisory Council (IFAC) has also suggested that the government should put any future unexpected receipts into a special ‘Prudence Account’.

Its latest report on the public finances says at least €3 billion and...

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