Oireachtas Joint and Select Committees

Wednesday, 14 November 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Scrutiny of EU Legislative Proposals.

3:15 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

Regarding COM (2011) 818, Mr. Gallagher states there are practical concerns regarding the requirements to base budgetary arithmetic on independent macroeconomic forecasts. He also said the draft regulation lacks detail. One of the concerns highlighted is that the independent macroeconomic forecasts can sometimes be in conflict with what is considered the official forecast. Do those independent commentators include rating agencies and others making macroeconomic value judgments?

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