The Irish Fiscal Advisory Council says the government’s decision to increase spending by 6.5 per cent in the budget was needed, but we’re still a long way from chasing inflation.
A 6.7 billion euro package for Budget 2023 was announced in the Summer Economic Statement yesterday.
Chairperson Sebastian Barnes says previously a 5 per cent limit was in place to monitor the growth of spending.
However he concedes we’re currently in exceptional circumstances……
Of that 6.7 billion – there will be 2.3 billion euro in unallocated spending – it will have to accommodate any new public sector pay deal.
Co-leader of the Social Democrats and Finance Spokesperson Roisin Shortall says money is available now and should be used immediately……………
