Budget unnecessarily volatile, says OECD

The Government spurned the opportunity to protect the economic safety of the country by delivering a budget underpinned by unnecessarily volatile fiscal policies.

Despite painting a broadly positive picture of the country’s economic situation, the OECD’s economic outlook report criticises the Government’s fiscal policy which it says has “prematurely shifted from consolidation to stimulus”.

Senior OECD economist and its Ireland head, David Haugh said while it is understandable the Government wanted to give something back to the public in Budget 2015, the measures announced were pro-cyclical and unnecessary.