Budget plans to be made years in advance under new EU rules

It is not expected that these rules to be formally adopted by next month, which means Michael McGrath will publish the Department of Finance’s most up-to-date economic and fiscal forecasts in the Stability Programme update as planned. Picture: Sam Boal/Collins

New EU rules will see Irish budget plans announced years in advance, the Government is to be told.

Finance Minister Michael McGrath will today update Cabinet on the new European fiscal rules which will have significant implications for budget formulation in Ireland and across the EU.