Ireland Must Build up Fiscal Buffers, Central Bank Chief Says

The Irish government should save more of its windfall from corporate taxes to make the public finances less vulnerable to future shocks, Central Bank of Ireland Governor Gabriel Makhlouf warned.

More of the country’s outsized company revenues, the majority of which come from multinationals, should be hoarded “to build resilience for the future,” he said in an interview with the Irish Times.

Gabriel Makhlouf

Photographer: Paulo Nunes dos Santos/Bloomberg

In a separate letter to Finance Minister Simon Harris, Makhlouf said that while the economy and its financial sector are in a strong position, the need to act is “increasingly urgent,” given the “economic, geopolitical and ...