The Irish Fiscal Advisory Council has warned that the Government’s debt targets for this year – as laid down by the Troika – may not be met.
But the budget watchdog says while a further 400 million euro of an adjustment may be needed, it could be done by cutting spending and not a mini-budget for tax hikes.
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The Government’s economic advisors say the slump in growth means, as of now, there’s a question mark whether the target of eight-point-six per cent can be met this year.
It says in order to hit that target there may be a need for a further 400 million euro of a correction.
But Council Chairman John McHale says a mini or emergency budget may not be needed:
