council recommend februari view end inconsist broad guidelin econom polici ireland ec council european union regard treati establish european commun articl thereof regard recommend commiss june council recommend irish author recommend broad guidelin econom polici member state commun readi budgetari polici ensur econom stabil extent overh economi gear budget object decemb ireland submit updat stabil programm object budgetari area period read conjunct budget releas dai council opinion februari updat irish stabil programm accord articl council regul ec juli strengthen surveil budgetari posit surveil coordin econom polici consid irish budgetari plan consist broad guidelin econom polici budgetari polici proper function coordin econom polici euro area requir time instrument articl european council helsinki decemb emphasis exist process arrang econom polici coordin council effect appli polici implement close monitor recognit irish economi shown bright perform continu grow rapidli real gdp growth expect result budgetari project updat stabil programm exceed larg margin debt ratio project declin gdp posit output gap inflationari pressur ireland intensifi hicp inflat averag rapid rise rate inflat partli due extern temporari factor expect gradual fall consum price index increas contribut domest gener inflat remain concern decemb irish budget present main measur direct tax packag consist cut tax rate increas allow full year cost gdp indirect tax cut full year cost gdp increas vote current spend project turn pai expenditur increas vote capit expenditur updat ireland stabil programm project reduct gener govern surplu gdp gdp impli deterior underli budgetari posit budget give substanti boost demand ireland suppli effect small short term aggrav overh inflationari pressur widen posit output gap updat peak trend gdp strategi induc labour forc increas allevi direct tax burden recommend bepg respect labour market effect past place context expansionari budgetari polici tight labour market hamper attempt encourag wage moder direct tax cut indirect tax cut effect price level last effect rate inflat stimul demand current stanc singl monetari polici set euro area plan contribut fiscal polici macroeconom polici mix inappropri irish budget expansionari pro cyclic inconsist council broad guidelin econom polici state irish author quot readi budgetari polici ensur econom stabil extent overh economi gear budget object quot commiss estim restrict measur equival gdp offset expansionari natur budgetari plan recommend remov inconsist broad guidelin econom polici engend budget plan irish govern countervail budgetari measur current fiscal year macroeconom assumpt updat stabil programm ensur reduct underli budgetari surplu take place commiss invit report econom budgetari develop ireland council close monitor develop assess consist broad guidelin econom polici recommend address ireland brussel februari council presid ringholm oj oj