IFAC also predicts government will breach its own five per cent spending rule every year until 2026 if the current approach is continued
The state’s budgetary watchdog has criticised the government’s labelling of elements in its summer economic statement, saying that the exclusion of €250 million worth of “windfall capital investment" from core spending is “bad for transparency".
It has also predicted that the state will breach its self-enforced five per cent spending rule every year until 2026 if the current approach is continued, and reinstated warnings that additional stimulus to the economy will likely fuel inflation. On Tuesday, the government unveiled its summer economic statement, a €10.4 billion package that has set the spending parameters of the forthcoming budget. It will be made up of €5.2 billion in core spending and €1.15 billion in tax cuts and €4 billion in “non-core” or so-called once off spending measures.
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