The government will have to borrow to top up its new savings funds, spending watchdog warns
The Irish Fiscal Advisory Council warns that the Irish government will need to borrow money to fund its new savings initiatives. The report notes that Ireland is spending corporate tax revenues faster than expected, creating a potential fiscal shortfall.
Why it matters
This underscores the risks of relying on volatile corporate tax receipts from multinational tech and pharma companies to fund long-term state commitments.
THE STATE WILL have to borrow in order to fulfil its saving fund commitments, the Irish Fiscal Advisory Council (IFAC) has said, as Ireland is set to increase spending faster than any other European economy in the medium term while continuing to rely on risky corporate tax revenue.
The article reports on an independent fiscal watchdog's findings, maintaining a neutral, fact-based tone.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in