The Irish Fiscal Advisory Council is warning of future gaps in state revenue, as costs grow due to Ireland's aging population.

It says the money gathered from taxes on vehicles and fuels is likely to fall while pension and health costs will rise.

It warns that taxes will need to increase to 3 percent of Gross National Income, if the pension age is to stay at 66.

It states if Ireland is to cover these costs, the State will need to move away from being a relatively low tax country and more in line with European norms.

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