Taoiseach says government won't 'repeat the mistakes of the past' when planning budget

The Taoiseach says the government will not repeat the mistakes of the past when it comes to planning for the budget.

The government is due to release the summer economic statement tomorrow.

Included in it will be a commitment to using money from corporation tax to part finance a rainy day fund.

Taoiseach Leo Varadkar says they will be planning carefully when it comes to the economy.

"The general principle that we will be applying is that no matter what the fiscal rules may be, it's just common sense and good housekeeping that next year we should continue to reduce the deficit and not increase borrowing," he said.

"At the current state we're at in our economic cycle, more borrowing and a bigger deficit and higher debt doesn't make sense.

We don't want to repeat the mistakes of the past.

Digital Desk

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