The latest warning to the Government from the Irish Fiscal Advisory Council (IFAC), the budget watchdog, comes as Minister for Finance Paschal Donohoe puts the finishing touches to his Summer Statement. One of the central points of the IFAC analysis is that the Government needs to control spending growth and to stay within its annual targets. Health spending has exceeded budget consistently in recent years and this has been paid for by soaring corporate tax revenues. The risk is obvious – if overspending continues and tax revenues weaken, budget forecasts could quickly go awry. The first job of the Summer Statement – without which it will be of little value – is to recognise this and to outline a strategy.

Source: The Irish Times June 10, 2019 22:52 UTC