€481k for watchdog that will be ignored

Ministers are spending €481,000 a year on a financial watchdog they have made clear they will ignore ahead of the Budget.

The money goes on the Fiscal Advisory Council which was set up after the financial crash by the Fine Gael-Labour Coalition in order to provide an independent voice for Government in economic matters.

However, when the council advised that next month’s Budget should be a tough one containing €2bn worth of tax hikes and spending cuts, ministers signalled they would not heed the advice.