CLARITY URGENTLY NEEDED ON EXTRA FISCAL SPACE – SHERLOCK
Today’s revelation that the Government has conjured an extra €200 million of fiscal space for the Budget next week must be urgently clarified.
According to reports, a further €200 million is now available to fund a cut in the USC and increase spending through ‘savings’.
The Labour Party has sought further details from the Departments of Finance and Public Expenditure and Reform, who declined to comment.
Deputy Sherlock said:
“Minister Paschal Donohoe should urgently clarify where this extra €200 million in savings has come from. In this era of new politics we were promised a more open and transparent budget process. It’s time the Government delivered on that commitment.’
Labour’s alternative budget, announced yesterday, clearly sets out how we would raise revenue to increase investment in public services and working families. Government must do the same.
Our fully costed plans commit to increasing public expenditure by €1.74 billion within the previously announced fiscal space.”