Irish Fiscal Advisory Council may step up spending alert with pre-election budget verdict

The Irish Fiscal Advisory Council may step up its warning about potential spending excesses when it delivers its verdict on the Coalition’s pre-election budget next week.

The European Commission yesterday delivered its preliminary verdict on Finance Minister Michael Noonan’s October 13 budget, the last before the election, and, as expected, gave it the equivalent of a pass grade, but with reservations.

It said the Coalition’s 2016 budget plans, made up of a a €1.5bn package of spending increases and tax cuts, were “broadly compliant” with the strictures of Europe’s Stability and Growth Pact.