Coalition parties at odds over funds for ‘rainy day’

Labour and Fine Gael are at odds over how much money is available for a claimed “rainy day” economic fund, just hours out from what is to be the expected launch of the general election campaign.

The Government parties’ plans for a buffer zone fund to ensure any potential future financial crisis can be overcome differ by as much as €600m — a gap that could have implications for how much money is available for separate tax cuts and service spending.

Speaking at the party’s weekend ard fhéis in Mullingar, senior Labour figures told the Irish Examiner the party will announce a €1.9bn budget stabilisation fund at its election manifesto launch next week.