Oireachtas Joint and Select Committees

Thursday, 19 June 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report 2014: Irish Fiscal Advisory Council

3:20 pm

Mr. Sebastian Barnes:

I have two observations. Conditional on starting from a situation of high debt, one of the messages we discussed in the report is that if there was not so much of an attempt to go beyond the minimum fiscal requirements, these pressures would be less. The choice has been made but as we pointed out in the report, that has a cost - to be more aggressive in the tightening over the coming years than the minimum required under the fiscal rules. That is a choice that has been made but it is one that costs.

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