Chair of the IFAC on their criticisms of Budget 2027
Summary
IFAC chair Seamus Coffey joins News Talk to critique Budget 2027, arguing that actual government spending growth of nearly 10% far exceeds the planned 6% target. He highlights persistent structural overruns in Health and Education, noting that risky corporation tax receipts are being spent on current costs rather than saved for future shocks. Coffey warns that this unsustainable trajectory forces the government to borrow billions, undermining fiscal stability despite a strong economy.
Topics discussed
Introduction and IFAC's critical report on Budget 2027
Why actual spending outturns far exceed planned growth rates
Structural budgeting failures in Health, Education, and Social Welfare
The risks of relying on volatile corporation tax receipts
Spending risky tax revenue on current costs and future borrowing
Sustainability of spending during an economic boom and closing remarks
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