Ireland’s public finances ‘at risk’

THE future health of Ireland’s public finances is at risk because of the costs of looking after an ageing population and slowdown in housing, a European Commission report has warned.

It was commenting on the country’s revised budget plans for 2006-2009, and said the medium-term budgetary position was sound.

“Provided the fiscal stance in 2007 does not prove pro-cyclical, the budgetary strategy provides a good example of fiscal policies conducted in compliance with the Stability and Growth Pact.