‘New era’ of low borrowing costs may herald tax cuts, but NTMA head warns of '100% chance' of recession

The size of the national debt may no longer be a constraint for Government spending as the world enters a “new era” of permanently low borrowing costs, leading economist Austin Hughes has said.

The size of the national debt may no longer be a constraint for Government spending as the world enters a “new era” of permanently low borrowing costs, a leading economist has said.

It came as the head of the National Treasury Management Agency (NTMA) warned an Oireachtas committee that there is a 100% chance of Ireland being hit with a recession in the future.