Government set to implement Fiscal Responsibility Rule
The Government is to introduce a number of measures before the next meeting with the EU and IMF in Dublin in two weeks.
Certain targets must be met in order for the country to be allowed receive more money from the EU/ IMF bailout loan.
Among the measures is the establishment of a Fiscal Responsibility Rule which means the Government must agree not to let the Budget deficit exceed 3%.
If this requirement is not met, the Government must make further cuts to public spending.
The Government will also agree to set up a Fiscal Advisory Council which would advise the Government on how the economy is performing and scrutinise all economic forecasts made by Government departments and agencies.
