Oireachtas Joint and Select Committees

Thursday, 3 December 2015

Public Accounts Committee

2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014

10:00 am

Mr. Derek Moran:

May I make a final comment? During the very difficult times the emphasis was heavily weighted towards reductions in expenditure. That does not go to the heart of efficiencies but I think the ratio between the heavy lifting on correcting the budget was about 2:1 in terms of expenditure over revenue. There is a consciousness about putting an economic imposition on the taxpayer that it stifles one's capacity to grow. That was the way it was over time. It does not get to the heart of efficiencies, but it is reducing expenditure. That was the way it was done.

In fairness to all spending Departments, and my colleagues in the Department of Public Expenditure and Reform, proportionately, they did more of the lifting than the revenue side.

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