Fiscal council chair wanted a €2bn adjustment

While most people will breath a sigh of relief that Budget 2015 gave back more than it took away, one man who may be more disappointed than most is Prof John McHale of the Irish Fiscal Advisory Council.

Mr McHale, chair of the independent fiscal advisory body established by the Government in 2011, recommended that a €2bn budgetary adjustment be made this year to protect the country’s fragile economy.

Amid what he referred to as a frenzy of demands and political pressures in recent weeks, the NUI Galway economics professor said his concerns over the impact of a less stringent budget had grown as of late.