Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Ireland's fiscal council warns against using volatile Apple tax windfalls for long-term infrastructure, urging fiscal discipline.

flag Ireland’s budgetary watchdog, the Irish Fiscal Advisory Council (IFAC), has warned against using volatile corporation tax windfalls—like the €14 billion from Apple—to fund long-term infrastructure spending. flag IFAC chair Seamus Coffey said nearly 90% of recent corporation tax revenue is now spent on current expenses, up from 60%, raising concerns about fiscal sustainability. flag The government plans to invest €275.4 billion in infrastructure over ten years, partly funded by the windfall and asset sales, but IFAC stresses that new spending must be offset by revenue increases elsewhere, such as broadening the tax base. flag The council cautioned against overspending, citing budget overruns in education and health, and urged counter-cyclical fiscal policy to prepare for future economic downturns, aging population, and climate challenges. flag Finance Minister Simon Harris acknowledged IFAC’s advice, supporting a fixed spending limit to ensure long-term fiscal responsibility.

9 Articles