ESRI warns Government to avoid taking measures that could overheat the economy

Government urged to put more cash into the National Reserve Fund in 2024 rather than succumb to the temptation of spending more in what could be an election year 

ESRI research professor Kieran McQuinn said there is a case for increasing the sum going into the National Reserve Fund if tax receipts are as large as envisaged. File picture: Mark Stedman

The Government should consider putting even more money than it currently plans into the National Reserve Fund in 2024 in order to avoid the temptation of taking measures that could overheat the economy in a possible election year, the Economic and Social Research Institute has said.

It comes as the ESRI forecasts that the budget surplus is set to balloon to €15.5bn in 2024, from €9.8bn this year, reflecting the huge value of tax receipts continuing to flow into the exchequer.