The Fiscal Council, Ireland's budgetary watchdog, has warned that Budget 2016 and the planned €1.5bn in supplementary spending mark a "deviation from prudent policy."
“Using unexpected incoming revenues to fund permanent increases in expenditure at a time of strong economic growth has worrying echoes of past fiscal policy errors and goes against the spirit of the new budgetary framework,” it said commenting on the pro-cyclical nature of the spending plans.
The independent body was set up after the Ireland's financial crash to monitor economic policy.
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In his final speaking engagement as the Governor of Ireland's Central Bank - Patrick Honohan has again criticised the treatment of the country during the banking crisis.
He told the Nevin Economics Research Institute that Europe's failure to directly recapitalise Irish banks was one of the biggest "missed oppertunities" during the period.
Mr Honohan argues that this would have been a 'win-win' as it would have stabilised the Irish banking sector, and ultimately have led to a profit for the European public sector.
He qualified these criticisms by saying that by most measures the country's turnaround has been a success - however he did raise concerns over the level of mortgage arrears in Ireland.
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The European Parliament’s Special Committee on Tax Rulings has warned the Irish Government that it will not be acceptable to close tax loop holes and replace them with new ones.
Its chairman, Alain Lamassoure said that Ireland cannot remove the so-called 'Double Irish' tax mechanism which allowed companies to dramatically reduce their tax bills - and replace it with an innovation box - which will offer lower corporation tax rates on profits generated through the creation of new patents and intellectual property.
Ireland's Government has argued that its 'knowledge box' is not a loophole and that it will encourage innovation and bring high quality jobs to Ireland.
The European Parliament backed a resolution to overhaul the corporate tax regime across Europe yesterday - this included proposals to introduce a Common Consolidated Corporate Tax Base (CCCTB).
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The Executive Council of the Irish Farmer's Association (IFA) has given the go ahead to elect a new president after the resignation of Eddie Downey last night.
The IFA said it was one of a number of decisions taken unanimously in the best interests of farmers after a 17 hour long meeting broke up at around 4.30 this morning.
The Executive Council ratified a review of pay and pensions to be carried out by Con Lucey, with a report due on the 15th December.
It was also confirmed that the IFA will launch a legal challenge to the €2 million severance package of the former General Secretary Pat Smith.
