Sean Whelan: How real is Michael Noonan’s €12 billion?

Sean Whelan: How real is Michael Noonan’s €12 billion?
"But who to believe? There are many moving parts, and they keep moving, which makes it very hard for the rest of us to keep up with."

There is not as much money available as everyone seems to think

How much money will the next government have available to do new things with?

Last weekend, Minister for Finance Michael Noonan said it would be €12 billion. Other political parties and various newspaper have pointed to the small print down the back of Budget 2016 and said it will be more like €8.5 billion.

Now IFAC chairman John McHale says it’s going to be more like €3.2 billion, fleshing out the Fiscal Council’s criticism from last October by...

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