Oireachtas Joint and Select Committees

Thursday, 13 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming Economic and Financial Affairs Council: Minister for Finance

10:10 am

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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That is what we are doing. They are not alternatives. The Acting Chairman will recall that, after the exit from the programme, the Government published a medium-term economic strategy setting out the framework. All Departments are operating within that framework and making plans for their areas of responsibility. That work is being driven by Ministers. For example, there is a specific set of proposals for agriculture. The same applies across other Departments.

Driven by Europe, the fiscal rules have changed since the crisis. There is a greater degree of European oversight of every country's budgetary matters. As well as doing exactly as the Acting Chairman has suggested, if there is any suggestion that the situation is not quite right or could be better, country-specific advice will emanate from Europe. Normally, it is more general than specific.