The finance minister said the penalties for defying EU budgetary rules were not worth the gains ROLLINGNEWSMichael Noonan has ruled out bypassing EU budgetary rules to increase spending on housing and other infrastructure as called for by the employers’ lobby group Ibec. Yesterday Ibec called on the government to break the rules next year to invest in infrastructure, including putting an extra €1 billion into social housing. Ibec said that the rules inhibited “sensible long-term investment” at… Ireland hopes to be allowed some flexibility, rather than rigidly abiding by the European Commission rules that currently cap public investment, but if this is not possible then the country will stay within the limits, the finance minister said.

Source: The Times July 14, 2016 23:26 UTC