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
Arthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source
We would all like to see the debt figure lower to give people hope. We also all want the economy to grow, services to expand and people to have more disposable income. The country can borrow money cheaply at a rate which is a long way from the figure of 14.5% in 2011 when we were headed towards default and we can achieve growth rates of over 4.5%. In that instance, would it make economic sense to borrow money cheaply which we could use to grow the economy? Obviously, a return on that investment would help to grow the economy further with the debt staying constant. Does this scenario blend into the thought processes of the council?
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