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

Cuirim fáilte roimh an Irish Fiscal Advisory Council anseo inniu.

The members of the Irish Fiscal Advisory Council may not be aware that following the publication of each of their reports I have called on the Government not to accept the main recommendation, in which it calls for more austerity measures. I am glad the Government did not accept its recommendation at that time. I see in this report, the members of the IFAC are suggesting the Government continues with the adjustment path in spite of the fact that a further €1.6 billion adjustment may not be required to reach the 3% target. If the Government had adopted the original position suggested by the IFAC, we would be overshooting by approximately €3.5 billion at this point. I know it is very difficult to predict and project the economic situation, but the council has got off to a shaky start to say the least.

I have made this point repeatedly but those who are watching this discussion at home are probably tearing their hair out at the failure of the members of the council to understand where people are at in their real lives and how they are trying to deal with additional charges and taxes when their pay has been reduced. They must listen to the five members of the council, each with high academic qualifications, including professors, arguing the case that the Government should overshoot the fiscal targets which will mean more pain and suffering. To some it will mean emigration and to others it might mean their family home is repossessed and all the other effects of austerity. I know the council members are limited by the way the Irish Fiscal Advisory Council was set up as a statutory body but there must be some recognition of what is happening in the country.

Why do the members of the council believe that we should overshoot the targets by €1.6 billion? They have argued to have a safety buffer but have they no understanding that while it may be great to have that level of protection, people want to have a little personal protection in their own lives? It is irresponsible of the council to recommend that the Government try to overshoot the targets because of the impact this would have on citizen and communities across the State.