Brendan Keenan: Fiscal Council with real teeth is needed to drive policy change
Published 09/06/2011 | 05:00
WANTED: clever, well-qualified folk to tell the Government what to put in the Budget and rebuke them if they don't do it. Ex-politicians may be considered.
Sounds like a fun job and it is coming up soon. Under the bailout agreement, the Government is supposed to appoint a Fiscal Advisory Council by the end of this month, although it does not actually go to work until next year at the earliest.
They are awfully popular, these outside fiscal referees. Some countries have more than one, with 27 institutions identified in 17 EU states.