Tanaiste Simon Harris has said the Irish economy is “in a position of relative strength” after a watchdog said the Government is “budgeting like there’s no tomorrow”.

The Irish Fiscal Advisory Council (IFAC) warned there was a lack of long-term planning and the Government was not saving enough corporation tax windfalls to prepare for future budgetary pressures.

In its latest fiscal assessment report, the IFAC warned once again of an ageing population, the challenge of climate change and of Ireland’s public finances being heavily reliant on corporation tax from a handful of large US multinationals.

It said when “excess” corporation tax was excluded, there is a deficit of almost 14 billion euro expected next year and that supporting an ageing population and addressing climate change wou

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