Ireland must pay extra €280m to EU after "distorted" growth

Ireland must pay extra €280m to EU after "distorted" growth
EU bill to rise Pic:

Noonan tells Dáil increase will follow revised CSO figures

Ireland will have to contribute an extra €280 million to the European Union budget next year following last week's extraordinary revision of the country's GDP growth figures, Minister for Finance Michael Noonan said today.

Revised figures from the Central Statistics Office (CSO) pegged Ireland's GDP growth for 2015 at 26 per cent – a dramatic 18-point increase on the originally estimated 7.8 per cent growth.

The increase, which experts said overstated 'real'...

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