IFAC: Govt. Must Set Out Credible Medium Term Strategy For Pandemic Recovery.

Thursday, 27 May 2021 09:46

It adds that budgetary forecasts are poorly founded

Ireland's economy is likely to bounce back after the pandemic, but the government needs to set out a credible medium term strategy.

That's according to the government's budget watchdog, which says our budgetary forecasts are poorly founded, while major policy commitments aren't built in.

Three initiatives would help better anchor future budgets: credible debt targets, saving unexpected corporation tax receipts in the Rainy Day Fund, and setting spending limits based on realistic forecasts. pic.twitter.com/rSf7c2gXr7
— Irish Fiscal Advisory Council (@fiscalcouncil) May 26, 2021

John Fitzgerald is an Honorary Fellow of Trinity College, Dublin and a Research Affiliate at the ESRI.

He joined Clem Ryan on Thursday's edition of Kildare Today.

The Government failed to publish a credible medium-term strategy as promised. This is both essential and long overdue. The absence of realistic plans and any fiscal targets leaves the public finances without an anchor and increases risks in the face of fiscal pressures. pic.twitter.com/WHfnYYip0H
— Irish Fiscal Advisory Council (@fiscalcouncil) May 26, 2021

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