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

2:30 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I move amendment No. 5:


In page 7, subsection (2), between lines 4 and 5, to insert the following:
"(a) prioritise the generation of economic growth, job creation and delivery of high
quality public services,".
This amendment relates to the warning from the Commission and the requirement for the Government to lay before the Dáil within two months a plan specifying what it proposes to do in terms of reaching the budgetary rule. What I have proposed in respect of this section - there are four subsections in it - is that we include in the plan how the Minister would identify the prioritising of the generation of economic growth, job creation and the delivery of high quality public services. At the minute, the plan only includes compliance with the budgetary rule, specifying annual targets, the size and nature of the revenue and expenditure measures being taken and outlining how the expenditure measures will be taken and how they will relate to different sub-sectors. While that is required to meet the rules within the treaty, it does not negate or rule out the fact that we can include in the plan how it would lead to economic growth, jobs creation and the delivery of high quality public services. While reaching these targets, it is important for us to take cognisance of what is happening to real individuals and the economy. We cannot continue to chase targets that will further depress economic growth.

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