Economist Seamus Coffey of the Irish Fiscal Advisory Council (Ifac) is urging the Government to “stick” to the rule that would limit annual growth in spending to five per cent per year.
“The perspective we’re taking is to ask the Government to stick to the rule. It stated itself back in 2021 that it would limit the annual growth in spending to five percent per year. What the Fiscal Council is asking is for the Government to stick to its own rule,” he told RTÉ radio’s Morning Ireland.
Mr Coffey explained that the role of the Fiscal Council was to make the Government and the public aware of the implications of policy decisions on the economy.
Ireland has a history of getting fiscal policy wrong.
“Ireland has a history of getting fiscal policy wrong, and for that have seen very severe and negative consequences for the economy and for society. We saw it in the 1980s. We saw it post 2008. One of the roles of the Fiscal Council is ensure that we remember the consequences of…
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