Oireachtas Joint and Select Committees
Thursday, 18 October 2012
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Fiscal Responsibility Bill 2012: Committee Stage
2:20 pm
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
The medium-term budgetary objective is a structural deficit of 0.5%. The debt rule is prescriptive in requiring us to reduce the excess over 60% by one 20th every year. In order to keep to the adjustment path, the headline rate must reach 3% by 2015. What is the period over which we are going to reach the structural deficit of 0.5%?
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