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Ireland enacts strict spending limits amid fiscal discipline push, with plans to boost national savings.
Tánaiste Simon Harris has directed Irish government departments to follow strict new spending limits in the country’s medium-term fiscal plan, approved by the European Commission despite a late submission.
Harris emphasized the need for fiscal discipline after a period of increased infrastructure spending, stating that budgets are now fixed and cannot be exceeded to avoid future financial strain.
Ireland continues to run budget surpluses, which are being invested in long-term savings funds, though the country lags behind other European nations in interest-bearing savings.
Harris plans to release a roadmap to improve national savings and investment, drawing on models from Canada, Sweden, and the UK.
He also addressed ongoing issues including housing, defense, international sports events, and healthcare decisions, such as the denial of a critical care unit at the Rotunda Hospital.
Irlanda promulga estrictos límites de gasto en medio de un impulso a la disciplina fiscal, con planes para impulsar el ahorro nacional.