Oireachtas Joint and Select Committees

Thursday, 11 June 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report: Irish Fiscal Advisory Council

2:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I am very much for sustainable growth. I strongly fear that what we are looking at is a pre-election giveaway without much concern for the rules that previously were apparently sacrosanct for this Government and were the justification for just about every nastiness they inflicted on us.

Having said that I want to ask questions about the metrics and measures that the IFAC is using. Are we constrained by what is actually a useful measure? That is a slightly separate point that I will deal with later. I want to be clear about what IFAC is saying about how the Government is diverging from rules that it previously adhered to and told us we had to adhere to and which puts us in danger of going outside the fiscal targets. Am I correct that the three areas the Government is not taking into account in its projections are demographic pressures, that its growth projections are tenuous and will somebody remind me of the third area?

The third one is tax buoyancy. Are those the three areas?

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