ESRI warns against budget spending spree

The Economic and Social Research Institute has advised the Government not to engage in a spending spree in December’s budget.

In a paper presented at a conference in Dublin today, the ESRI said the global economy was at its strongest in recent years and the Irish economy was expected to grow by 5% next year.

However, it also warned the Government not to give in to public expectations of a giveaway budget.

It said there was room for measures to help the less well-off, but a general spending spree could create problems down the line.

ESRI spokesman Daniel McCoy said: “We’re going to have hard times in the future. If we are reckless and move up our depositions during the good times, then we won’t have anything in store in the arsenal for the bad times.”