Broad outline of next year’s budget to be sent for EU nod

THE Government will submit the broad outlines of next year’s budget to the EU for approval for the first time next April, ahead of the Oireachtas seeing it.

However, EU finance ministers still have to agree if and how to punish countries that fail to make changes recommended by the Commission and the European Central Bank.

The new system means the budgets of all EU member states will be aligned for the first time ever to achieve specific targets including on education, employment and no budget over-runs of more than 3%.