The Government “will not be going down the road” of austerity and introducing cuts to public spending and services, despite a €30 billion deficit this year, Michael McGrath, the new Public Expenditure has said. Speaking as he intends taking up the reigns of the public finances this morning, Mr McGrath said the best way of gradually reducing that over time is to grow the economy. “I do think it is important we have stability in terms of public pay policy. There will be a requirement for a new agreement but it is important that a new agreed position on public pay is reached. Mr McGrath also spoke of the moment he was appointed to Cabinet by Micheál Martin.

Source: Irish Examiner June 28, 2020 20:48 UTC