Troika: Budget 2017 leaves Ireland vulnerable to shocks

The European Commission has said that by doing little to broaden the tax base in the October budget, the Government has left the country’s finances potentially exposed to future shocks.

In a joint statement marking the end of the so-called troika’s sixth post-bailout programme “surveillance mission” to Ireland, the commission and European Central Bank (ECB) yesterday said that while Ireland’s economic prospects “remain bright”, “some clouds are on the horizon”.

“While GDP is expected to continue to grow at robust rates, the future evolution of the activities of multinational enterprises remains uncertain and the external environment has become increasingly unpredictable especially after the UK ‘leave’ vote,” they said.