Gerald Nash (Louth, Labour)
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The Central Bank said yesterday that the Government's stance is likely to be expansionary. Would IFAC agree with that in the first instance? Do our guests agree that the budgetary and fiscal stance that is to be taken in October is likely to contribute to inflation? The Central Bank said yesterday that its forecast for inflation next year is about 3.2%. When I questioned its representatives on this yesterday and asked what impact the budgetary stance, as we understand it at the moment, would have, they said it is likely to add about 0.2% to 0.7% to inflation next year. Would IFAC agree with that analysis?