The Irish Fiscal Advisory Council, an independent body that assesses the country’s taxes and spending, predicts strong growth will return as restrictions ease and vaccines are rolled out. However, the council is sounding the alarm regarding the Government’s major ongoing spending commitments following two years of large emergency deficits to cope with the pandemic. The council expects fiscal supports will still be needed through 2022, exhausting the extra contingency money set aside by Finance Minister Paschal Donohue. However, the council said that only modest adjustments in taxes and spending will be required to get the budget back on track. “There is a possibility that growth pays for spending,” said Mr Casey.

Source: Irish Independent May 25, 2021 21:11 UTC