The Economic & Social Research Institute (ESRI) has cautioned Fianna Fáil & the PDs not to engage in a pre-election splurge in December's Budget.
In this quarter's update, the ESRI has said that economic growth will slow down in 2008. They have advised the Government that money will need to be held back in order to ensure that anti-cyclical policies can be followed (i.e. that Government spending can be ramped up in the event of a downturn becoming apparent).
Former Finance Minister Ruairi Quinn TD of the Labour Party claimed that a "repeat of the dangerous conduct coming up to the 2002 General Election – when public expenditure increased by more than 20% per annum - could be disastrous. Money was thrown at anything that might turn up a few votes. Any consideration of getting value for money was abandoned."
The Government last night refused to comment on the ESRI's report.
Source: The Irish Times