Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Derek Moran:
Well, we've got the Fiscal Advisory Council which, you know, kind of, is very happy to exercise their independence and so it should. Internally, you know, we have a much stronger link between budget policy and, and an economic policy. We have ... and it works well, I think, but the separation of the Department between expenditure and tax and the ... it is risky. And we have a memorandum of understanding between us and the Department of Public Expenditure that makes it work reasonably well. So, so overall I think, both in terms of the adoption of external rules, the embedding them into a sort of a revised budgetary framework, that sort of greater professionalisation of economics, I think we've put a lot in place in terms of improving the overall budget framework.
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