Wednesday November 25, 2020

ANALYSIS: Why wait to establish rainy day fund as risks loom

Brexit threat overridden by political necessity in a minority government

Michael Brennan

Political Editor

21st June, 2016
Minister Michael Noonan at the summer economic statement briefing today. Pic:

With a potential Brexit around the corner, the government might be well advised to hold on to some spare change.

And the government is only going to set up a rainy day fund with an annual allocation of €1 billion in 2019, rather than starting now.

According to Noonan, the economy is growing at five per cent, the national debt-to-GDP ratio is dropping and there is no risk of the economy overheating.

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