Watchdog’s warnings come ahead of tricky financial budget and possible snap election
The Irish Fiscal Advisory Council’s latest missive to Government about the public finances centres on three potential flashpoints.
Ifac highlights that there are strong risks of spending overruns this year in the areas of health, children and social protection, while noting “medium-term fiscal challenges remain to be addressed, including the costs of population ageing, climate change and the costs of implementing health reforms”.
“Given the strength of the economy, choices need to be made. This is not a time for the ‘everything now’ approach of cutting taxes, increasing current and capital spending and doing this all at once,” Ifac acting chairman Prof Michael McMahon said.
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