Organisation: Irish Fiscal Advisory Council

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>Taoiseach Simon Harris speaking with World Ploughing Champion Ger Coakley, Clonakilty, Co Cork on day one of the National Ploughing Championships at Ratheniska, Co Laois. Picture: Dan Linehan</p>

news

'No rationale' to one-off cost-of-living measures in Budget 2025

NERI saying that instead of once-off, untargeted, supports, Ireland needs evidence-based approach to welfare payments based on income adequacy

economy

Ifac warns budget spending splurge could rise household bills by €1000 a year

<p>Irish Fiscal Advisory Council chairman Seamus Coffey’s warnings are similar to those Ifac issued in the past but the finance minister is set to breach the Government’s self-imposed spending rules again. <span class="contextmenu emphasis CaptionCredit">Picture: Jim Coughlan</span>
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S economy

New faces but same pre-Budget tensions between Ifac and Department of Finance

economy

Fiscal council criticises Government's 'everything now' budget plans

A female milk factory operator with tablet adjusting processing machine during covid 19.

economy

Output from foreign-owned firms falls sharply

economy

Ifac warns that premature tax cuts could overheat the economy

State's budget watchdog maps out the cost of climate change measures

Report's author said its calculations of farmer support were based on Teagasc research findings of the reduction in livestock numbers needed for the sector to meet its targets, and on farmer compensation for the accompanying reduction in farm incomes

Wed, 13 Mar, 2024

Irish Examiner view: Social media platforms allow hate and harassment fester

Senator Micheál Carrigy's case is the latest example of the kind of appalling abuse that tech giants profit from

Fri, 08 Dec, 2023

Michael McGrath defends budget amid 'fiscal gimmickry' criticism

Finance Minister Michael McGrath has defended the budget following criticism from the fiscal watchdog, arguing that the Government struck the “right balance”.

Thu, 07 Dec, 2023

Watchdog concerned about Government’s ‘poor budgeting and fiscal gimmickry’

The report says that Ireland's economy in the run-up to the budget had been performing above capacity and that it was a time to "not add too much fuel to the fire"

Thu, 07 Dec, 2023

S Mick Clifford: If you’re under 40 this is where you may begin to see red

The reversal of plans to raise the pension age to 68 shows appalling political handling and leaves us to pretend we can continue as is by hiking PRSI, writes Mick Clifford

Fri, 24 Nov, 2023

ESRI 'shares concerns' about demands on health budget for next year

The Economic and Social Research Institute (ESRI) has told TDs it shares concerns with the fiscal watchdog about the demands on the health spending next year.

Wed, 18 Oct, 2023

Oliver Mangan: Wealth funds are a welcome shift to greater long-term planning

There is scope for higher receipts, with the hike from 12.5% to 15% in the rate of corporate tax paid by larger companies coming into effect from next year.

Tue, 17 Oct, 2023

Movie tax credit boost puts Ireland in the spotlight — but issues with the scheme remain

The decision to increase the expenditure cap under Section 481 is likely a ploy by the Government to lure streaming giants to Ireland after corporation tax rose to 15% in January

Sat, 14 Oct, 2023

Mick Clifford: Certain sections expected to carry a greater burden

Every now and again, something pops up to indicate how unserious many in politics are about governing. This week it was back to basics with the most rudimentary aspect of governance: Taxation.

Sun, 08 Oct, 2023

Government accused of repeating past mistakes ahead of budget

Irish Fiscal Advisory Council says 'economy does not require additional stimulus'

Wed, 06 Sep, 2023

Internal emails reveal fiscal watchdog had concerns about Government's 'windfall' plans

Records released under FOI show that the Irish Fiscal Advisory Council believed the Government planned to break its own spending rules for 2024, 2025, and 2026

Mon, 04 Sep, 2023

Mick Clifford: We are selling our children down the river on housing

This is no country for young men or women.

Sat, 22 Jul, 2023

Tom McDonnell: Government should abandon populist tax cuts in Budget 2024

We need to protect low-income households from cost-of-living pressures — not half-heartedly through once-off measures but through structural uplifts in working age and old age payments

Sun, 16 Jul, 2023

Sovereign wealth funds back on agenda, but many questions remain

Experience says that even a separate sovereign wealth fund doesn’t protect public finances from disaster

Thu, 13 Jul, 2023

Spend and be damned? Minister for Finance walks a budget spending tightrope

Budget planning sees the return of the economic debate of when is a spending limit a spending limit as the Fiscal Council issues another warning to ministers McGrath and Donohoe, writes Ronan Smyth

Sat, 08 Jul, 2023

State's fiscal watchdog criticises Government for breaching own spending rules

The Irish Fiscal Advisory Council said the Government’s recent Summer Economic Statement "risks making high prices more persistent"

Thu, 06 Jul, 2023

Irish Examiner view: Budget giveaway

Political choices

Thu, 08 Jun, 2023

Martin: There will be tax cuts in October budget

Tánaiste Micheál Martin said the public finances are 'strong' in Ireland, and also said there would be additional expenditure on public services

Wed, 07 Jun, 2023

Budget 2024: Ifac warns Government not to be tempted by spending increase or tax cuts

The Irish Fiscal Advisory Council is also urging the Government to stick to its national spending rule

Wed, 07 Jun, 2023

File Photo PEOPLE ARE BEING warned to be alert against a phishing scam involving fraudulent emails and texts

Coalition warned not to use 'excess' revenues for tax cuts

Irish Fiscal Advisory Council urges Government to put 'excess' corporate tax receipts into a reserve fund

Thu, 01 Jun, 2023

Workers could face tax hikes in October budget

Government considers increasing PRSI to top up funds for future pensions.

Fri, 31 Mar, 2023

Reshape National Reserve Fund to fund State pensions, fiscal watchdog urges

"This option could reduce its reliance on excess corporation tax receipts and save for future pensions costs,” said IFAC chairperson Sebastian Barnes

Wed, 23 Nov, 2022

Fiscal watchdog supports wide range of tax hikes

Ifac said Commission on Tax and Welfare proposals would boost tax revenues by a significant amount

Wed, 16 Nov, 2022

Anticipated €2bn package to tackle costs likely to increase, says expert

The €2bn package is in line with what other economic commentators, such as Austin Hughes, have said is needed to help people through this energy crisis. However, the sum is much smaller than what others on the continent are delivering.

Wed, 07 Sep, 2022

Fiscal Council warns that Ireland has 'little margin of error' in dealing with cost-of-living crisis

The Government must contend with €2bn of hidden inflation costs ahead of Budget 2023 in October, according to fiscal watchdog

Tue, 31 May, 2022

Financial watchdog warns Government's plan to spend more and cut tax 'a risky strategy'

Tánaiste Leo Varadkar has said increased spending on public projects will be prioritised and there will also be a tax package for workers to ensure they are not impacted by inflation

Wed, 15 Sep, 2021

Michael McGrath rejects criticism that budgetary numbers 'not realistic'

Public Expenditure Minister Michael McGrath said he 'strongly rejected' the Irish Fiscal Advisory Council's description of the €5.4bn increase in permanent, non-Covid, expenditure this year as 'not prudent'

Thu, 27 May, 2021

Government slammed over 'poorly founded' budget planning

Fiscal advisory council warns that new spending will have to come from higher taxes or spending cuts

Wed, 26 May, 2021

Government in 'comfortable position' to finance its Covid-19 costs

Exchequer has resources of about €40bn going into the second half of the year, says economist

Thu, 13 May, 2021

Slow decline in jobs depending on €1.7bn wage-subsidy scheme

New figures for the number of people and employers needing wage-subsidy scheme suggest the economy could require the continuing support of huge amounts of public money for some time to come.

Thu, 25 Jun, 2020

Current economic challenges ‘just the end of the beginning’

The Governor of the Central Bank has warned that the country is only at "the end of the beginning" of the economic shock caused by the Covid 19 pandemic and that the long term impact is yet to fully materialise.

Wed, 17 Jun, 2020

Covid fallout 'not a return to austerity'

The Irish Fiscal Advisory Council says that it does not expect the Covid-19 recession to cause the kind of austerity seen in the economic crash, but has warned that Ireland will need large amounts of funding for new borrowing.

Tue, 16 Jun, 2020

Ireland facing €30 billion deficit, as economic cost of coronavirus to be revealed

The devastating impact of the Coronavirus on the economy will be laid bare to the Oireachtas Covid Committee tomorrow, with members to be told that Ireland is facing a deficit of €30 billion.

Mon, 15 Jun, 2020

Daniel McConnell: Can public sector pay rises be justified during coronavirus?

Up to 1.2m workers in the private sector have lost their jobs, had their pay cut or are on some form of State support since the beginning of the coronavirus pandemic.

Sat, 30 May, 2020

'Bonkers' for Govt parties not to look at taxation says Kelly

It is "bonkers" for parties in government formation talks to say that taxation will not be looked at, says Alan Kelly.

Wed, 27 May, 2020

Govt talks: Raising taxes must remain on the table - Irish Fiscal Advisory Council

Government talks will continue between Fianna Fáil, Fine Gael and the Green Party this morning.

Mon, 11 May, 2020

No fuel price reductions likely at the pumps

With oil dropping below $18 a barrel in New York yesterday, eager Irish diesel and petrol vehicle owners will have their eyes on the pumps in their local filling stations over the next two weeks.

Fri, 17 Apr, 2020

Unemployment figure may have hit 25% months earlier than predicted

Unemployment, which had been forecast to peak at 25% this summer due to the Covid-19 crisis, may have already exceeded that level — two months earlier than forecast.

Tue, 07 Apr, 2020

Covid-19 finances: 'We can afford it, but doubts would begin to emerge after six months'

The State can afford the huge expenditure bill and hit to revenue from the Covid-19 crisis for six months but the sustainability of the finances starts to come into question if the pandemic fallout extends for a longer period, warns Seamus Coffey

Wed, 25 Mar, 2020

Kyran Fitzgerald: Irish Fiscal Council sounds the alarm on the climate emergency

From Irish banks exposed to bad loans and the slow process to redirect resources, Kyran Fitzgerald writes on the climate challenges identified by a fascinating conference

Sun, 01 Mar, 2020

IFAC's replacement of Seamus Coffey could take months

Naming a successor to Seamus Coffey as head of the Irish Fiscal Advisory Council (Ifac) will likely take months should

Wed, 12 Feb, 2020

Bank of Ireland's new Dublin headquarters

Central Bank calls for cut to government debt

The Central Bank, the Parliamentary Budget Office, and the world’s largest ratings firms have all urged the next government to avoid pumping up spending that could lead to a new crash.

Wed, 12 Feb, 2020

War of words over corporate tax take

The Department of Finance is accusing the Irish Fiscal Advisory Council (IFAC) of misrepresenting the main findings of a report on Ireland’s corporation tax take.

Sat, 08 Feb, 2020

''Surprise'' fall in Vat revenues as Government spending grows

Corporate tax revenues were the star performer in the first month of the year, but Vat receipts fell back and Government spending rose sharply, the monthly exchequer figures showed.

Tue, 04 Feb, 2020