Oireachtas Joint and Select Committees

Wednesday, 14 November 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Scrutiny of EU Legislative Proposals.

3:35 pm

Photo of Dara MurphyDara Murphy (Cork North Central, Fine Gael) | Oireachtas source

It would not be good news for the Merrion Hotel if the delegations were to visit less frequently.

On the independent macro economic forecast, there are different types of forecast. Can the Government choose which independent forecaster to use or must it advise the relevant authorities in advance? In other words, could it nominate the Irish Fiscal Advisory Council as its designated body whose forecasts it would support or endorse? Alternatively, would some form of auction take place, with different independent groups being called in to ascertain which of their forecasts would most closely mirror those of the Department? Could different elements of different macro-economic forecasts be used? For example, could the Government use the growth rate of one forecaster and the unemployment level of another forecaster?

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