Nothing To See Here

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90401157

Professor John McHale, of the Irish Fiscal Advisory Council at the publication of its ninth Fiscal Assessment Report in Dublin.

The Government had deviated from a “prudent path” to use an unexpected bounty of revenues sourced from corporate tax receipts, even though it was still not totally clear whether these revenues could be relied upon in the future.

The additional spending had the effect of adding to the spending base in framing of the budget sums for 2016.

Presenting the supplementary budget so late, the Government had “deviated” from the path of financial prudence and had increased the risk that the State would fail to meet the new budget oversight rules from Brussels from 2016.

As the country adapts to the legacy of the bust, [Professor John] McHale said that the risks facing the country have been well documented “because we are going to be living with the high-debt crisis for some time”.

Irish Fiscal Advisory Council slams 2015 spending splurge (Irish Examiner)

Alternatively…

“We now have a target to reduce our borrowing as a percentage of national income to below 3% for next year. That will be delivered.”

“And Fine Gael and the government as a whole will continue to adopt the most sensible approach possible to our national economy because we want to make sure that the spending behaviour of the past does not wreck the recovery that is now underway.”

Transport Minister Paschal Donohoe responds for the government.

Minister insists government’s economic policy is sensible (Newstalk)

5 thoughts on “Nothing To See Here

  1. classter

    Kenny’s political ‘master stroke’ has been to become more FF than FF themselves.

    Depressing really.

      1. classter

        Buying the election with ‘giveaways’ – as per this post.
        Utterly discreditable appointments to state boards – eg. IMMA
        Lazy ministers (apart from Shatter) – almost no reform of anything (cost cutting aside)
        Enda playing the harmless, relateable eejit.
        Hogan.

  2. topsy

    More backtracking on the radio by the Prof this morning. Essentially their reports can be altered on a whim of the government – no problem.

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