In its economic outlook for Ireland, released last week, the Organisation for Economic Cooperation and Development (OECD) has warned the government over cutting taxes in order to finance its public sector pay deal.
'The government needs to move quickly to bring the rapid growth of public employment and consumption under control so as to maintain needed improvements to infrastructure without increasing the budget deficit,' the OECD argued on Thursday, adding that:
'The recommended rise in public sector wages should only be granted against commitments to improve work practices. There is no room for another national wage agreement based on tax cuts.'
The multilateral body also forecast GDP increases of 3.6% next year, and 4.4% in 2004.
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