Saturday December 14, 2019

Fiscal Advisory Council criticises 'imprudent' Budget 2016

Expert body slams 'worrying echoes of past fiscal policy errors'

26th November, 2015
Prof John McHale

The Irish Fiscal Advisory Council (FAC) has criticised the government for using unexpected incoming revenues to fund permanent increases in expenditure.

FAC says this deviates from prudent economic and budgetary management and shows worrying echoes of past fiscal policy errors.

Budget 2016 showed an increase in government expenditure for 2015 of €1.5 billion. The additional spending absorbs the majority of the better-than-expected tax revenues in 2015 and delays the point at which a balanced budget...

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