Donohoe tells watchdog Ifac his long-term budget spending sums are ‘credible’ after all

Finance Minister Paschal has defended his Government’s long-term spending plans against a charge made last month by watchdog, the Irish Fiscal Advisory Council that they lacked “credibility”.

In a formal reply to Ifac chair Seamus Coffey, the finance minister said plans to inject €2bn in a Rainy Day fund by the end of the year is evidence of the Government’s prudence.