The Budget watchdog says there is a 50/50 chance of the Government missing its deficit target – and more austerity may be needed.
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The Irish Fiscal Advisory Council says the Government ignored its advice to make 3.1 billion euro in adjustments in Budget 2014 – and that means we run a significant risk of breaching our 3 per cent deficit ceiling.
It also says it advised the Government to take a precautionary credit line when leaving the bailout – and that failing to do so may not have been in our best economic interests.
